empty
 
 
31.12.2020 12:27 PM
Trading idea for the USD/JPY pair

This image is no longer relevant

Yesterday, the USD / JPY pair faced a very interesting situation, which, in our opinion, is caused by the closure of short positions in the market. In that regard, traders can use this as a pivot, in order to take over the sell stops at 103.9.

This image is no longer relevant

In fact, since the quotes have formed three wave patterns (ABC), where wave "A" is the upward movement observed yesterday, the bulls can open long positions from 103.30-103.50, the target of which is a 50% retracement in the market. The risk for this transaction is 102.950, which is the low reached yesterday.

The main target is a breakout from 103.9, but if the quote reaches 103.350, take profit.

Price Action and Stop Hunting were used for this trading strategy.

Good luck and Happy New Year!

Andrey Shevchenko,
Analytical expert of InstaForex
© 2007-2024
通过InstaForex赚取加密货币汇率变动的收益。
下载MetaTrader 4并开启您的第一笔交易。
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $9000 more!
    In May we raffle $9000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

推荐文章

现在无法通话?
提出您的问题,用 在线帮助.
Widget callback