USDJPY set up ideas and trades

pezz55

Sergeant
Messages
193
USDJPY

This pair has had a huge break back to the upside.
Pushing up and grabbing liquidity, with NFP tomorrow price has been driven to an area and depending on the news out come. USD has shown some upwards retrace over the last week .
If we were to break above then there is no stopping the pair on the upwards move.

As you can see we are at the 79% on the fib level of the move and stalled, from here I will look for the market session in the morning and wait for the break of market structure from there
key entry and price action will be needed.
Make sure you use proper risk management when trading. Let me know how you get on.
 

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TareqS

Sergeant
Messages
180
The pair another bullish breakout in the daily chart. This breakout suggests that the pair may remain bullish for quite a while.
 

pezz55

Sergeant
Messages
193
Back with USDJPY

This pair has been on a ride lately and no entry or set up from its last move. This time I am currently in the move and looking to hold for an 8% account gain.
Currently we have seen this pair punch up higher then before taking out all the sellers over the last week. Finally today there was a break of structure to the down side, clearing the yellow low marked out.
With the use of the fib and a lower time frame entry and small gap in price I found my entry. with SL above with room to move will be holding over night and looking for price to break down over the London session.
If this move plays out then 8% account growth would be enough for the whole week.

Make sure you use proper risk management when trading.
Let me know how you get on.
USDJPY BOS 1 HOUR.png
 

ForexTus

Recruit
Messages
176
Bearish overall on DXY so like this idea. I might look at TP at the recent low though to ensure I get my profit.
Me too, i think DXY has a lot of retracing to do in the mid to long term. Itll be interesting to see how it plays out over the summer
 

sebking1986

Private
Messages
595
The way DXY moved in the afternoon after I posted has me rethinking I'll be honest. Past the point of a logical retracement now and aiming at the 105.00 high.
 

pezz55

Sergeant
Messages
193
USDJPY

This pair looks to be making a drop and has broke structure on the 1 hour TF and leaving relative Equal lows on the 4 hour with the last candle.
I will be looking for 1 of the 2 set ups to form at my points of interest. Looking at both sides of the market for an intraday Buy or Sell.
With the sell set up I am looking for a retracement in to the daily OB an then continuation pushing further down breaking the equal lows.
Or for the Buy for price to continue down the the open imbalance in price and also touch back on the old highs of start of May and then push back up in to the FVG gap on the 4 hour set up.

Both of these set ups would yield around 10% account growth so looking for a good entry is important also.

USDJPY Break Down.png
 
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