March 13, 2023 FX Trading Strategy "Today's Move" Gogojan Edition
Hello everyone!
This is Tatsuron.
Week 3 of March starts!
Here is the USD/JPY trading strategy!
USD, 1-hour chart
USD/JPY Trading Strategy
Long Points
① 135.862 near Yen Break
② 136.428 yen – 136.820 yen vicinity Break
③ 130.890 yen – 131.540 yen vicinity Reversal
Break Strategy
① Break of 135.862 yen is a resistance-to-support turning line. Caution as momentum can turn around, but it’s also a good place to be pressed.
② The near 136.428–136.820 yen range has recently been used many times for counter-trades. If it reverses here, go short; if it breaks, go long.
Reversal Strategy
③ We’ll position quite deeply around 130.890 yen–131.540 yen.
If it falls this far, there’s momentum toward the 120s, so drop to the bottom and wait for a clear breakout above 131.540 yen to initiate a counter-trade.
Short Points
① 132.896 yen – 131.196 yen vicinity Break
② 130.463 yen – 130.890 yen vicinity Break
③ 135.206 yen – 135.459 yen vicinity Reversal
Break Strategy
① Break of around 132.896–131.196 yen gains stronger justification when combined with an upward-trend line and the 200-period moving average on the 1-hour chart.
② The 130.463–130.890 yen vicinity is quite deep, so using this strategy suggests the situation is serious. This is the zone to defend around 130 yen, so consider long reversals as well as short positions.
Reversal Strategy
③135.206 yen – 135.459 yen is the prior support turning into resistance (resist-to-support) with expectations.
Today's indicators
