March 15, 2023 FX Trading Strategy "Today's Move" GoGoJangan Edition
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This is Tatsuron.
Here is the USD/JPY trading strategy!
USD hourly chart
USD/JPY trading strategy
Long points
① 134.793 - 135.206 JPYarea Break
② Break near 135.895 JPY
③ 132.896 - 133.211 JPYarea Reversal
Breakout strategy
① Breakout of 134.793 - 135.206 JPY aims for a pullback and then a break of the downtrend line.
This is the expectation that the risk-off mood will ease as is.
② The vicinity of 135.895 JPY is a zone where the nearest resistance and support are clearly separated.
If it breaks and uses it as support, the next move is up.
Reversal strategy
③ 132.896 - 133.211 JPY has a lower-level reversal point raised from below. If this breaks, it indicates a new low and a potential short point, but a reversal would be a fake breakout.
Important support area to the downside.
Short points
① Around 132.896 - 131.196 JPY Break
② Around 132.053 - 132.275 JPY Break
③ Around 135.206 - 135.459 JPY Reversal
Breakout strategy
① Break early around 132.896 - 131.196 JPY. Targeting a deceptive triple-bottom fake-out.
② Break near 132.053 - 132.275 JPY: a continuation of the hourly downtrend including new lows. If price dips to 131, it will bounce and then a breakout above 132.275 turns to long.
When aiming for new highs or new lows, be prepared to face stronger opposing momentum than usual.
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