All attention will be turned to tonight's FOMC Statement together with the Federal Funds Rate. USD pairs will be in focus as we end the week with Non-Farm Payroll numbers.
Reason:
1. USD/JPY is clearly in the downtrend with both EMA 50 and 200 towards the downside.
2. A pullback into the area of prior support turned resistance.
3. The recent upmove is accompanied with thin volume; currently consolidating at the supply zone.
4. Signs of rejection of higher prices as shown in the area shaded in yellow.
Trade Set-up as follows:
EP: 109.660
SL: 110.765
EP: 106.960
Good luck in your trading journey!
Best Regards,
Nour Capital - Tracking Smart Money Flow
Disclaimer:
The material (whether or not it states any opinions) is for educational purposes only, and does not take into account your personal circumstances or objectives. Nothing in this material is (or should be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by Nour Capital or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Reason:
1. USD/JPY is clearly in the downtrend with both EMA 50 and 200 towards the downside.
2. A pullback into the area of prior support turned resistance.
3. The recent upmove is accompanied with thin volume; currently consolidating at the supply zone.
4. Signs of rejection of higher prices as shown in the area shaded in yellow.
Trade Set-up as follows:
EP: 109.660
SL: 110.765
EP: 106.960
Good luck in your trading journey!
Best Regards,
Nour Capital - Tracking Smart Money Flow
Disclaimer:
The material (whether or not it states any opinions) is for educational purposes only, and does not take into account your personal circumstances or objectives. Nothing in this material is (or should be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by Nour Capital or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Trade active
EP has been triggered.
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.
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.