good morning readers, Analyze USDJPY Today there is an interesting setup for our day trading. Where this pair has been in an attractive price pattern for the past few days.
Check out the USDJPY analysis chart in the following monthly chart:
Judging by the chart above, it looks like price USDJPY tumbled again as the yen tried to gain a foothold and outperform the US dollar, which fell in late June.
For today’s entry review, let’s look at USDJPY on the 1-hour chart below:
Based on the image above,
I’ve found Even the following intraday support and resistance prices:
Resistance2 (R2): 136.37
Resistance1 (R1): 136.04
Support1 (S1): 135.48
Support2 (S2): 135.16
Based on the chart image above, it looks like yesterday USDJPY moves south as the yen reverses the US dollar’s weakness, whether sustained or not will be the basis of analysis later this week.
Today, focus on analyzing the price reaction near the chart levels to confirm clarity of interest and further direction while keeping an eye on sentiment around the US Dollar and risk appetite by sticking to the daily chart. Remain factual!
Use the volume type indicator to help us see the strength of the trade in each candle.
The R1 level and the S1 level will also help us measure how much pressure traders have today, which will confirm the next direction.
Watch what happens Consolidation or False Breakout against the S1 level and the R1 level today.
Analisa USDJPY – Jangan berasumsi (Trade what you see, not what you think).
Well my view/prediction based on the price action we analyzed above today we will try to see opportunities for available entries. However technically not allow assumptions play then the best entry we can make is we will continue to see movement FINAL PRICE Pada candle 1 hour.
USDJPY analysis setup for breakout opportunity,
Obtain : If the price of the 1-hour closing candle breaks the R1 level, then get ready to look for the best BUY entry position. You can also let your position reach the R2 level (the strongest resistance level today) to see the market reaction to this level to go back up or not.
To sell : If the 1 hour closing candle price pierces the S1 level then get ready to look for the best SELL entry position, you can also let your position reach the S2 level (the strongest support level today) to to see the market reaction to this level to go back down or not.
Analytical setup for pullback opportunity
To sell : If the price of the 1-hour closing candle fails to penetrate the R1 level (e.g. forming a bear header), then be prepared to look for the best SELL entry position, but if the price breaks this level reaches and breaks through, prepare for a cutting loss. Can also be used at level R2.
Obtain : If the price of the 1-hour closing candle fails to penetrate the S1 level (e.g. forming a bull pin bar), then prepare to find the best BUY entry position, but if the price breaks through this level reaches and breaks through, then prepare to cut loss. Can also be applied to S2 level.
Use Risk reward always at least 1:1 or 1:2 and a trailing stop loss (manual or automatic) if required. You can use support and resistance levels for your analysis reference to set stop loss and perform cut loss, stay alert for price consolidation.
Continue to use good money management in each entry for continued healthy trading. Hopefully this article can be your reference in analyzing the market.
A NOTICE: If there is a pair that you would like to request for analysis, you can write it in the comment column, I will try to publish it in the next post. Many Thanks.