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USDJPY Trade Setup (Oct 8)

Profile photo of YJ Baik - Forex.Today by YJ Baik - Forex.Today
2015-10-08_13-48-30-UJ1

USDJPY failed to go above the cloud on Daily Ichimoku chart.  So I remain Neutral / Bearish with this pair.

This Ichimoku tells us the upper space is blocked by the clouds, so buying this pair doesn’t make sense.

2015-10-08_13-48-30-UJ1

 

So the strategy I would recommend is the range bound play with the inner range of 119.30 – 120.30.   However, I would only recommend to sell from the top only, as the top is limited by the clouds.

2015-10-08_13-50-19-UJ7

Don’t forget, that once the price broke the bottom (119.30), Breakout strategy to sell!

 

YJ Baik – Forex.Today @ Tokyo

 

 

 

 

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