USDJPY NonFarm Last Weekend Strategy

4 Ağu 2023

USDJPY Yesterday, I held the view that USD “could move higher, but any upside is expected to face solid resistance at 144.00.” USD then rallied to 143.89 before making a surprisingly strong drop (low was 142.05). The price action seems to be part of a wide trading range. Today, we expect USD to trade between 142.00 and 143.50

Yesterday, USD rose to a fresh 1-month high of 143.89 and then fell near our 'strong support' at 142.00 (low of 142.05). The upside momentum is starting to deteriorate and the chances of USD rallying to 145.00 are diminishing. A breach of 'strong support' would suggest that USD can trade in a wide range for a period of time.

NOTE:
Note: Nova wants traders to manage their capital well
- Take the number of plots that correspond to your capital
- Take profit in the amount of 4-6% of the capital account
- Stop lots in the amount of 2-3% of the capital account
- The winner is the one who stays in the market the longest

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4 Ağu 2023

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