FX trading strategy "Genius Move" March 20, 2023 (Monday)
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This is Tatsuron.
Here is the USD/JPY trading strategy!
USD 1-hour chart
USD/JPY Trading Strategy
Long Points
① Around 132.896 to 133.211 JPYNear Break
② Around 133.949 JPY Break
③ Around 130.463 to 130.890 JPYNear Reversal
Breakout Strategy
① Break near 132.896–133.211 JPY, incorporating the downtrend line as well. As per theory, long if it breaks upward, short if it breaks downward.
② Break around 133.949 JPY also carries the expectation of resistance/support reversal. For ①, use the inner trend line; for ②, involve the major trend line.
Reversal Strategy
③ Around 130.463 to 130.890 JPY, break downward, and if it then rises above this zone after touching the low 130s or 129s, this would be a counter-trade.
Short Points
① Around 131.547 JPY Break
② Around 130.890 JPY Break
③ Around 134.793 to 135.206 JPY Near Reversal
Breakout Strategy
① Break of 131.547 JPY is a simple new low. If it breaks 132.053 JPY, cut. Aim for the 130s.
② Break of 130.890 JPY is also a move toward future new lows. Be cautious of a rapid surge back from the 130s.
Reversal Strategy
③Around 134.793 to 135.206 JPY, 135 is a clear resistance/support reversal point.
A fake breakout of the downtrend line and even though it has breached near 135.459 JPY and returned, the potential for a counter-trade downward remains high.
Today's Figures
