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Trade Analysis and Trading Tips for the Japanese Yen
Due to low market volatility, the price levels I identified were not tested during the first half of the day, so I remained without any trades.
Going forward, all attention will be focused on U.S. retail sales figures. Recent reports have shown signs of growth, which could influence expectations regarding how long the Federal Reserve will keep interest rates unchanged. If retail sales increase today, the USD/JPY pair is also likely to rise.
At the same time, alongside the analysis of macroeconomic reports, financial markets will closely monitor speeches by members of the Federal Open Market Committee. Statements from officials such as Jeffrey Schmid and Beth M. Hammack are considered a valuable source of information regarding the regulator's view of the current economic situation and the future direction of monetary policy. Their comments may provide insight into upcoming decisions on key interest rates. A hawkish stance from policymakers would support the U.S. dollar.
As for the intraday strategy, I will rely primarily on the implementation of Scenarios No. 1 and No. 2.
Scenario No. 1: Today, I plan to buy USD/JPY when the price reaches the entry point around 157.99 (green line on the chart), with a target at 158.33 (thicker green line on the chart). Around 158.33, I plan to exit long positions and open short positions in the opposite direction, targeting a 30–35 point move from the level. A rise in the pair today can be expected after strong U.S. data.
Important! Before buying, make sure the MACD indicator is above the zero line and just beginning to rise from it.
Scenario No. 2: I also plan to buy USD/JPY today if there are two consecutive tests of the 157.80 price level while the MACD indicator is in the oversold area. This would limit the pair's downward potential and lead to an upward market reversal. Growth toward the opposite levels of 157.99 and 158.33 can then be expected.
Scenario No. 1: Today, I plan to sell USD/JPY after a breakout below the 157.80 level (red line on the chart), which would lead to a rapid decline in the pair. The key target for sellers will be 157.39, where I plan to exit short positions and immediately open long positions in the opposite direction, targeting a 20–25 point rebound from the level. Pressure on the pair will return today if weak U.S. data is released.
Important! Before selling, make sure the MACD indicator is below the zero line and just beginning to decline from it.
Scenario No. 2: I also plan to sell USD/JPY today if there are two consecutive tests of the 157.99 price level while the MACD indicator is in the overbought area. This would limit the pair's upward potential and lead to a downward market reversal. A decline toward the opposite levels of 157.80 and 157.39 can then be expected.
Important: Beginner Forex traders should make market entry decisions very carefully. Before major fundamental reports are released, it is best to stay out of the market to avoid sharp price fluctuations. If you choose to trade during news releases, always place stop-loss orders to minimize losses. Without stop-loss orders, you can lose your entire deposit very quickly, especially if you ignore money management principles and trade large volumes.
And remember, successful trading requires a clear trading plan, similar to the one presented above. Spontaneous trading decisions based solely on the current market situation are inherently a losing strategy for intraday traders.
*এখানে পোস্ট করা মার্কেট বিশ্লেষণ আপনার সচেতনতা বৃদ্ধির জন্য প্রদান করা হয়, ট্রেড করার নির্দেশনা প্রদানের জন্য প্রদান করা হয় না।
ইন্সটাফরেক্স বিশ্লেষণমূলক পর্যালোচনাগুলো আপনাকে মার্কেট প্রবণতা সম্পর্কে পুরোপুরি সচেতন করবে! ইন্সটাফরেক্সের একজন গ্রাহক হওয়ায়, দক্ষ ট্রেডিং এর জন্য আপনাকে অনেক সেবা বিনামূল্যে প্রদান করা হয়।
