| The U.S. is headed toward higher interest rates faster than Japan, which makes dollar-denominated assets more tempting. The Japanese yen has fallen against the dollar. Technical analysis shouldn't care. A technical analysis doesn't care about the news or why things are or should be. A 'pure' chartist knows we don't know everything. The chartist examines the price chart to find the next viable deal. She or he tries to determine whether the benefit versus risk is high enough at a pattern or location where powerful hands may respond (buy or sell). The technical analyst may have hypotheses, such successful traders taking half or full gains, but those reasons don't important. That's my goal. The next technical analysis video on USDJPY suggests shorting the pair (soon). The USDJPY short trading plan involves 6 sell orders to scale in and average a better entry price (this also mitigates risk, allowing the stop loss to be pushed out further without significanly compromising the reward vs risk ratio). When the swing trade's goal profit is attained, 80% of the position is closed, 20% is held, and the stop loss is adjusted to the entry point. Stop loss is 1.58 percent. USDJPY traders should view the complete video before trading. Stay tuned for updates on this trade idea at: https://www.forexlive.com/technical-analysis/usdjpy-technical-analysis-trade-idea-short/ |
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