USD/JPY Heading into NFP. What’s Your Play?
Hey guys,
In today’s market overview blog, I spoke about the fact that while the fundies were pointing to further upside in the buck, the US Dollar Index had come off resistance and things were going to get interesting tonight.
With NFP and the Trump China trade war garbage coming up, it just becomes what market to pick. Where is the opportunity? Well l, with USD/JPY holding the resistance zone, just like we have been watching for, there’s an opportunity to take a calculated risk heading into the release.
Take a look at the higher time frame chart:
USD/JPY Daily
That’s the same chart we’ve been looking at previously and after ticking just above the zone in question, price was swiftly rejected.
From here, things get interesting on the intraday charts. Take a look at the hourly:
USD/JPY Hourly
There’s your short term retest!
Only question now becomes your risk tolerance heading into the biggest USD sensitive data release of the month, compounded by some loonie bin politicians.
What’s your play?
✌🏻.
@forexbrokr | Steemit Blog
Market Analyst and Forex Broker.
Twitter: @forexbrokr
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nice imformation you provide
can you help me in one more thing@forexbrokr
tips and tricks to grow in steemit pls ????????
great bro.
BUT I HAVE A QUESTION YOU USED CHART HOURLY, IS THIS 1 HOUR CHART OR 4 HOUR CHART?
It is 1 hour chart. On the chart you can read 60, which refers to 60 minutes of the hourly chart.
Good luck with your trading!
Thanks man, that's correct @rahul-pareek.