The Yen pairs always have strong rallies. For USDJPY, looks like broke through resistance of ~145.71, so next resistance is ~151.94.
When I trade JPY pairs, they're typically Position trades as they has excessively long streaks. I like to put not too much capital in these trades, just riding the flow while still having enough capital from Swing trading on other pairs that fluctuate more often.
All in all - trade with YOUR Risk Mgmt & Ideology!!
Hopefully this post can add to your biases. And if not, please add your objections so we can work together to get those pips!! :)
Enjoy!
Jason.
When I trade JPY pairs, they're typically Position trades as they has excessively long streaks. I like to put not too much capital in these trades, just riding the flow while still having enough capital from Swing trading on other pairs that fluctuate more often.
All in all - trade with YOUR Risk Mgmt & Ideology!!
Hopefully this post can add to your biases. And if not, please add your objections so we can work together to get those pips!! :)
Enjoy!
Jason.
Note
If today's price closes >147.37, then next resistance is from 2022's high on Oct 21, 151.94. As JPY pairs typically have long rallies, this would be considered Position trading. I like to take part in either Swing or Position trading, just to keep both skill sets fresh.But for anyone reading this, please only stick to YOUR style that works best for you. All these people publishing ideas here to share, which is great, but at the end of the day, it's your capital to protect!!
Thanks, Jason.
Note
We are still inching up towards the big resistance at 151.946!About 170 pips away from the all-time high for the pair. Once reached, we'll close out.
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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.