The reason why i chose USDJPY this week as apposed to any other pair Fundimental analysis: 1) The USD had a strong bull run last week. The reason according to the experts is investors were seeking US dollars and the trend is likely to continue this week 2) On Friday USD run slowed down and retraced on all major pairs. Retrace on the JPY was the weakest. Thus...
Hi All Reasons for choosing CADJPY - Short 1) Looking for strong vs weak currency (Check currency indices). JPY strong due to safe haven status. CAD weak due to low oil prices. Both due to effects of corona virus which not likely to end soon. 2) No major economic indicators due out for next seven days for either country. (Check economic calender) 3) Risk reward...
1) Keep it simple. Trade in the direction of the trend with the wind at your back. 2) Look for entry point with good risk-reward ratio. At least 1:2
Look for main trend. Look for support & resistance. Place limit order and enter on pull back