Expecting next USDJPY drop
Updated
Expecting next drop of USDJPY to next major support which is around 108. Price action on short time frame is showing signs of getting near resistance and signs of consistent swelling pressure and intermittent buying pressure, a recipe for a price fall.
Note
To build up your position it's important to wait until a clear strong trend has developed, so look for a series of lower highs and look at volume for large speculators to jump in. You can test the strength of the trend with small trades of for example 500 units. If the trend continues and your small trade becomes profitable then you add another small trade and again you watch if the trend continues and wait for this second trade to become profitable. Then you submit your next trade and test it before you continue on with the next and the next until your position reaches the size you had in mind.
Related publications
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.