USD/JPY Signal Update

There is no outstanding signal.

Today’s USD/JPY Signal

• Entries may only be made between 2pm and 5pm London time today, and then during the following Tokyo session.

• Risk 0.75% of equity.

Long Trade 1

• Long entry following bullish price action on the H1 time frame after the first touch of 100.88.

• Place a stop loss 1 pip below the local swing low.

• Adjust the stop loss to break even when the price reaches 101.25.

• Remove 50% of the position as profit at 101.65 and leave the remainder of the position to ride.

Short Trade 1

• Short entry following bullish price action on the H1 time frame after the first touch of 102.22.

• Place a stop loss 1 pip above the local swing high.

• Adjust the stop loss to break even when the price reaches 101.86.

• Remove 50% of the position as profit at 101.86 and leave the remainder of the position to ride.

USD/JPY Analysis

For more than one month we have been stuck in a range between 102.22 and 100.88 or thereabouts. This has been a hard pair to trade but the resistance and support at these two levels still seems to provide likely trading opportunities at which to catch reversals.

We did move down from just below 102.22 at the start of last week, but we only got as low as the 50% Fibonacci retracement of the major upwards move last year. This line at about 101.18 has acted as nice support over the past few days and seems to have been enough to turn the price around. The action now looks quite bullish.

I have left two old bearish trend lines on the chart as although they were broken it still seems they might have some influence. If the fast move up this morning continues, either of them might pause or halt it.

USD/JPY Signal

There are no high-impact news releases due today that will directly affect the USD, although the Bank of Japan will be releasing a Monetary Policy Statement towards the end of the Tokyo session. Therefore it is likely to be a very quiet day for this pair until the Statement is released.

Related Articles
  1. Chart Advisor

    ChartAdvisor for November 27 2015

    Weekly technical summary of the major U.S. indexes.
  2. Retirement

    Suddenly Pushed into Retirement, How to Handle the Transition

    Adjusting to retirement can be challenging, but when it happens unexpectedly it can be downright difficult. Thankfully there are ways to successfully transition.
  3. Mutual Funds & ETFs

    The Democratization of the Hedge Fund Industry

    The coveted compensations of hedge fund managers are protected by barriers of entry to the industry, but one recent startup is working to break those barriers.
  4. Investing

    What a Family Tradition Taught Me About Investing

    We share some lessons from friends and family on saving money and planning for retirement.
  5. Retirement

    Two Heads Are Better Than One With Your Finances

    We discuss the advantages of seeking professional help when it comes to managing our retirement account.
  6. Financial Advisors

    Tips on Passing the CFA Level I on Your First Attempt

    Obtain valuable tips and helpful study instructions that can help you pass the Level 1 Chartered Financial Analyst exam on your first attempt.
  7. Professionals

    The Best Financial Modeling Courses for Investment Bankers

    Obtain information, both general and comparative, about the best available financial modeling courses for individuals pursuing a career in investment banking.
  8. Stock Analysis

    These are Twitter's 4 Biggest Bets for Next Year

    Looks at Twitter's plans for 2016 under CEO Jack Dorsey, who has returned to lead the company he founded seven years after he was replaced.
  9. Investing Basics

    Why Interest Rates Affect Everyone

    Learn why interest rates are one of the most important economic variables and how every individual and business is affected by rate changes.
  10. Entrepreneurship

    Top 5 Billionaires Living In Dallas

    Learn who the richest of the rich are in a city known for creating some of the world's wealthiest people, and read how they amassed their vast fortunes.
  1. Are secured personal loans better than unsecured loans?

    Secured loans are better for the borrower than unsecured loans because the loan terms are more agreeable. Often, the interest ... Read Full Answer >>
  2. Is Israel a developed country?

    Israel is considered a developed country, although it has substantial poverty and large income gaps. The International Monetary ... Read Full Answer >>
  3. Can personal loans be included in bankruptcy?

    Personal loans from friends, family and employers fall under common categories of debt that can be discharged in the case ... Read Full Answer >>
  4. How many free credit reports can you get per year?

    Individuals with valid Social Security numbers are permitted to receive up to three credit reports every 12 months rather ... Read Full Answer >>
  5. Is the Wall Street Journal considered to be a conservative publisher?

    The Wall Street Journal is controlled by Rupert Murdoch via Dow Jones Publications, which in turn is owned by Murdoch's News ... Read Full Answer >>
  6. Is Spain a developed country?

    Spain is a developed country. Nearly all organizations that analyze development status classify it as such. Spain has a strong ... Read Full Answer >>

You May Also Like

Trading Center