15 March is the next FOMC meeting for interest rate decision. I would like to see this pairs price can rise to 116.30 by then.
If that happen, I would expect some retracement, once retracement finished, I would re-access the strength and momentum of this pairs.
If Bullish momentum still hold, then buy at the dip again and target for 118.30.
If Bullish momentum is weakening, then we will manually take profit for the remaining contract, plan and anticipate for a sell off in contrast.
If that happen, I would expect some retracement, once retracement finished, I would re-access the strength and momentum of this pairs.
If Bullish momentum still hold, then buy at the dip again and target for 118.30.
If Bullish momentum is weakening, then we will manually take profit for the remaining contract, plan and anticipate for a sell off in contrast.
Trade active
1st Target 114.60 hit and partial profit taken. Currently expect support is finding at 114.40,
Next resistance: 115.60
My plan is when 115.60 hit, take some profit, after is retraced. confirm bullish momentum continue and buy again from the dip.
Note
USDJPY moving nicely as plan.
My estimate 2nd Target to take a bigger portion of profit today would be in between 115.8 -116.20 for today before the market closing for the weekend.
Good luck ! :)
Trade active
Just moved the SL for this pairs to below today low (114.88 )
Current SL 114.70
If 114.88 can be break today, a huge pin bar would then create,
If that happen, I am still in profit with 65 pips.
Now lets see how high it gonna go today. Still target to profit between 115.8 -116.20
Thx!
Trade active
at 115.40, resistance appear on 4hr chart.
so I decided to take some more profit here also. (+133 pips)
and let the rest to go to 116.24.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.