Trading Conditions
Products
Tools
There were no tests of the designated levels in the first half of the day.
The U.S. Q4 GDP report and weekly Initial Jobless Claims will only indirectly impact the market. A stronger-than-expected GDP print could support USD/JPY, especially after significant losses during Asian trading. Weaker U.S. data may increase pressure on USD/JPY, potentially pushing it toward last week's lows.
Given the intraday setup, I will focus on executing Scenario #1 and Scenario #2, continuing the downward trend.
Scenario #1: I plan to buy USD/JPY today if the price reaches 154.65 (green line on the chart), targeting 155.16 (thicker green line). At 155.16, I plan to exit long positions and enter a short trade, expecting a 30-35 point downward correction. Bullish momentum for USD/JPY will be supported only if U.S. data is strong.
Important: Before entering a buy trade, ensure that the MACD indicator is above the zero level and just starting to rise.
Scenario #2: I also plan to buy USD/JPY today if the price tests 154.32 twice in a row, while the MACD indicator is in the oversold zone. This would limit the pair's downward potential and trigger a bullish reversal. Expected upside targets: 154.65 and 155.16.
Sell Signal
Scenario #1: I plan to sell USD/JPY after the price breaks below 154.32 (red line on the chart), which could lead to a sharp decline. The main target for sellers will be 153.75, where I plan to exit shorts and immediately buy for a 20-25 point rebound. Selling pressure on the pair is likely if U.S. data is weak.
Important: Before entering a sell trade, ensure that the MACD indicator is below the zero level and just starting to decline.
Scenario #2: I also plan to sell USD/JPY today if the price tests 154.65 twice in a row, while the MACD indicator is in the overbought zone. This would limit the pair's upward potential and trigger a bearish market reversal. Expected downside targets: 154.32 and 153.75.
Beginner Forex traders must approach market entries cautiously. Before major economic data releases, it is often better to stay out of the market to avoid sharp price fluctuations. If trading during high-impact news events, always use stop-loss orders to minimize potential losses. Trading without stop-loss protection can quickly wipe out an account, especially for traders without proper risk management or those trading large positions.
Keys to Successful Trading:
InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.
We may place cookies for analysis of our visitor data, to improve our website and measure advertising performance. Overall this data is used to provide a better website experience. More information
Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of Instant Trading EU Ltd including online trading, online transfers, deposit/withdrawal of funds, etc.
If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.
Why does your IP address show your location as the USA?
Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.
We are sorry for any inconvenience caused by this message.