Technically, I see the USDJPY pair is now entering a position that is
still worth the price to take into account its entry point.
Let's look at the chart picture USDJPY 4 Hour Time Frame before we analyze the following:
Let
us analyze using analysis Price Action (Pressure Trader), In the market
trend looked USDJPY is still in bearish condition / downtrend, but we
also have to anticipate a trend reversal when price broke above the
resistance area and also the price consolidation. The green area on top is the Great Resistance, alert when prices approach this green area.
In the history of the candle, we can look for opportunities Sell
entry, but to make it more objective, I will present an analysis to
entry buy or sell.
When we look at the chart above picture, the pressure Seller (long red
candle) Gently lower the price without can withstand the pressure Buyer
(long green candle) and forming a lower high.
This indicates still the Seller who dominate the formation of certain price levels. However, the opportunity Buy still to be found in this USDJPY pair.
In the picture, I determine areas Resistance through two lines above
the price (108.74 - 108.53), to the Support area, we can see through the
two lines below the price (107.94 - 107.62).
Here's my entry setup options, can use to adjust your trading style.
I was a breakout setup entry opportunity,
when the price closes 4 Hour candle penetrated Upper Resistance Area (108.74), so be looking for the best buy Entry position.
If the price closes 4 hours candle penetrates Lower Limit Support Area (107.62), so be looking for the best sell Entry position.
Cut
loss if the price Close 4 Hour Candle is under the lower limit of
Resistance Areas (<108.53) for entry buy, and above the Upper Limit
Support Area (> 107.94) for the entry-level sell. And do risk ratio of at least 1: 1.
And Setup Pullback to BUY position:
Pullback
area using Support area, if the price Candle Close 4 Hours are in the
area for a pullback, it can take a position and do Cut Loss Buy when the
price Close 4 Hour Candle is under the lower limit of the area Pullback
(<107.62). Use risk ratio of at least 1: 1 for the way you trade.
And Setup Pullback to SELL position:
Pullback
area using the area of the Resistance, when prices Candle Close 4
Hours are in the area for a pullback, it can take a position and do Cut
Loss Sell when the price Close 4 Hour Candle is above the upper limit of
the area Pullback (> 108.74). Use risk ratio of at least 1: 1 for the way you trade.
Keep using good money management in each entry for the sustainability
of a healthy trading, and remain vigilant against Fake Breakout Candle.
Hopefully this article can be your reference in the analysis on the market.
Happy Trading all.
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