Position Trade - USDJPY
*Need confirmation
Monthly:
- 6M, 3M and monthly chart shows that price is continuing to make higher prices
As price has broke historical price, any trades for BUYS need confirmation.
Going by the trend, price is expected to rebound downwards to demand zone. Therefore, traders can look for confirmation sells before going big on BUY trades.
Daily
- Price needs to break the demand zone (highlighted) in the Daily chart before the SELL zone can be activated
In the long run, this pair is more profitable in LONG trades than SHORT trades. Once SELL orders are activated, the P/L needs to be managed closely.
LONG trades can be found in the Weekly Chart (purple lines)
*Need confirmation
Monthly:
- 6M, 3M and monthly chart shows that price is continuing to make higher prices
As price has broke historical price, any trades for BUYS need confirmation.
Going by the trend, price is expected to rebound downwards to demand zone. Therefore, traders can look for confirmation sells before going big on BUY trades.
Daily
- Price needs to break the demand zone (highlighted) in the Daily chart before the SELL zone can be activated
In the long run, this pair is more profitable in LONG trades than SHORT trades. Once SELL orders are activated, the P/L needs to be managed closely.
LONG trades can be found in the Weekly Chart (purple lines)