empty
 
 
Stai per lasciare
www.instaforex.eu >
il sito gestito da
INSTANT TRADING EU LTD
Apri un conto

29.10.202415:37 Forex Analysis & Reviews: USD/JPY: Simple Trading Tips for Beginner Traders on October 29th (U.S. Session)

Queste informazioni sono fornite ai clienti al dettaglio e professionisti come parte della comunicazione di marketing. Non contiene e non deve essere interpretata come contenente consigli di investimento o raccomandazioni di investimento o un'offerta o una sollecitazione a impegnarsi in qualsiasi transazione o strategia in strumenti finanziari. Le performance passate non sono una garanzia o una previsione delle performance future. Instant Trading EU Ltd. non rilascia alcuna dichiarazione e non si assume alcuna responsabilità in merito all'accuratezza o completezza delle informazioni fornite, o qualsiasi perdita derivante da qualsiasi investimento basato su analisi, previsioni o altre informazioni fornite da un dipendente della Società o altri. Il disclaimer completo è disponibile qui.

Analysis of Trades and Tips for Trading the Japanese Yen

The test of the 152.92 level occurred when the MACD indicator was already well below zero, which limited further downward potential for the pair. For this reason, I didn't sell the dollar, especially given the current upward trend. A second test of this level found the MACD in the oversold zone, allowing Scenario #2 for buying to play out. As a result, the pair rose by over 40 points and continued its ascent at the time of writing. Today's U.S. data could further strengthen the pair's upward potential, but this would require the consumer confidence indicator to exceed economists' forecasts, encouraging new purchases. Weak data could quickly turn the market downward. For my intraday strategy, I plan to rely on Scenarios #1 and #2.

Exchange Rates 29.10.2024 analysis

Buy Signal

Scenario #1: Today, I plan to buy USD/JPY at the entry point near 153.99 (green line on the chart) with a target of 154.70 (thicker green line on the chart). At 154.70, I plan to close my long position and open a short position, expecting a reversal of 30-35 points. The pair's growth today will likely depend on a continuation of the upward trend. Note: Before buying, ensure the MACD indicator is above zero and just beginning to rise.

Scenario #2: I also plan to buy USD/JPY today if the 153.29 level is tested twice consecutively while the MACD is in the oversold zone. This should curb further downward and could lead to an upward reversal. An increase toward the next resistance levels of 153.99 and 154.70 can be expected.

Sell Signal

Scenario #1: I plan to sell USD/JPY after a break below the 153.29 level (red line on the chart), which is likely to trigger a quick decline. Sellers' main target will be 152.64, where I will exit the short position and immediately open a long position, expecting a reversal of 20-25 points. Downward pressure on the pair may return if U.S. data disappoints. Note: Before selling, ensure the MACD indicator is below zero and just starting to decline.

Scenario #2: I also plan to sell USD/JPY today if the 153.99 level is tested twice consecutively while the MACD is in the overbought zone. This will limit the pair's upward potential and could lead to a downward reversal. A decline to the next support levels at 153.29 and 152.64 can be expected.

Exchange Rates 29.10.2024 analysis

Chart Key:

  • Thin green line – entry price for buying the trading instrument.
  • Thick green line – suggested price for placing Take Profit or manually fixing profit, as further growth above this level is unlikely.
  • Thin red line – entry price for selling the trading instrument.
  • Thick red line – suggested price for placing Take Profit or manually fixing profit, as further decline below this level is unlikely.
  • MACD: When entering the market, it's crucial to consider overbought and oversold levels.

Important: Beginner forex traders should exercise caution when making entry decisions. Before key fundamental reports are released, it's best to stay out of the market to avoid potential volatility. If you decide to trade during news releases, always use stop orders to manage potential losses. Without stop orders, losses could accumulate quickly, especially if you lack a money management strategy and trade in large volumes.

Remember that successful trading requires a clear plan, such as the one I've outlined above. Making spontaneous trading decisions based solely on the current market situation is generally an unprofitable strategy for an intraday trader.

Eseguito da Jakub Novak
Esperto analista di InstaForex
© 2007-2024

Apri un conto di trading

Le recensioni analitiche di InstaForex ti renderanno pienamente consapevole delle tendenze del mercato! Essendo un cliente InstaForex, ti viene fornito un gran numero di servizi gratuiti per il trading efficiente.




Stai per lasciare www.instaforex.eu, il sito Web gestito da INSTANT TRADING EU LTD
In questo momento non potete parlare al telefono?
Ponete la vostra domanda nella chat.

Turn "Do Not Track" off