March 16, 2023 FX Trading Strategy "Today's Move" GogoJyan Edition
Hello there!
This is Tatsuron.
Here is my USD/JPY trading strategy!
USD/JPY 1-hour chart
USD/JPY Trading Strategy
Long entry points
① 132.896 - 133.211 JPYnearby Breakout
② Break around 133.949 JPY
③ 130.463 - 130.890 JPYnearby Reversal
Breakout Strategy
① 132.896 - 133.211 JPY is the recent support/resistance conversion expectation. If price breaks above, aim for a retest. The green JCounter also strengthens the rationale when it breaks higher.If a reversal occurs, the expectation to turn downward increases, but wait for a new low to be set.
② The area around 133.949 JPY has acted as support before; expect it to turn into resistance rather than a break in this context.
Long targets: keep both levels pulled back and concise.
Reversal Strategy
③ Wait for a counter-trade reversal around 130.463 - 890 JPY. This one has deep support.
Short entry points
① 132.053 - 132.206 JPY nearby
② Break around 131.567 JPY
③ 135.459 - 135.895 JPY nearby Reversal
Breakout Strategy
① Around 132.053 - 132.206 JPY, expect continued downtrend on the 1-hour chart, even with occasional counter-moves. Classic approach, but be wary of irregular moves.
The stance remains: when aiming for trend continuation with new highs/lows, keep a stronger bias against the opposite direction than usual.
② Break around 131.567 JPY signals a clearer downside, aiming for the 130s. Be flexible if a sharp drop occurs.
Reversal Strategy
③Counter-trade around 135.459 - 135.895 JPY is prepared for sharp rallies.
A downward trendline and the 1-hour SMA200 nearby also serve as reversal signals.
Today's indicators
