March 14, 2023 FX Trading Strategy "Today's Move" Gogojan Edition
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This is Tatsuron.
Today we have the U.S. Consumer Price Index data!
Here is the USD/JPY trading strategy!
USD 1-hour chart
USD/JPY trading strategy
Long points
① 135.862 around yenBreak
② 136.428 yen to 136.820 yen vicinity Break
③ 130.890 yen to 131.540 yen vicinity Reversal
Break strategy
① Break of 135.862 yen is a conversion line of resistance and support. It aims for a pullback as caution eases, but it’s also a potential target for a rejection, so proceed with care.
② Around 136.428 yen to 136.820 yen has recently been a frequent counter-trade zone. If it reverses here, go short; if it breaks, go long.
Reversal strategy
③ We position quite deeply toward 130.890 yen to 131.540 yen.
If it falls this far, there is momentum to probe the 120s, so once it drops below and re-breaks 131.540, initiate counter-trade.
Short points
① 132.896 yen to 131.196 yen vicinity Break
② 130.463 yen to 130.890 yen vicinity Break
③ 135.206 yen to 135.459 yen vicinity Reversal
Break strategy
① Break of 132.896 yen to 131.196 yen vicinity strengthens the basis when paired with an uptrend line and the 200-day SMA on the hourly chart.
② The vicinity of 130.463 yen to 130.890 yen is quite a deep positioning, so using this strategy implies a serious situation. It’s a zone supporting around 130 yen, so consider long reversals while shorting.
Reversal strategy
③ 135.206 yen to 135.459 yen is the prior support turning into resistance—a resist-supply reversal expectation.
Today’s indicators
