USDJPY technical analysis & trade idea (short)!

• 07 Sept update on trade idea provide in the video below (short USDJPY using 3 pending sell orders): 3 out of 3 sell orders filled, and the average weighted price is 144.21, which is the updated entry price of the short position. The stop loss for the USDJPY short is at 146.495. The take profit target is 135.08

• The United States is moving toward higher interest rates at a greater level and speed than the lower Japanese interest rates, which is making dollar-denominated assets more appealing for investors. As a result, the Japanese yen has been falling in comparison to the United States dollar.
• But a pure technical analysis should not care. A technical analysis does not mind the news and does not focus on the reasons why things are and what should they be, fundamentally.
• A 'pure' chartist understands that there are also things we do not know, fundamentally. In any case, the chartist looks at the price chart and tries to identify the next junction for the next possible trade. She or he aspires to judge if the reward vs risk is attractive enought at that junction within a pattern or area where other strong hands may react (buy or sell) strongly.
• The technical analyst may have theories of why this can happen, like profitable traders taking partial of full profits, but... those reasons do not matter, either.
• That is what I am attempting to do here. Love it or hate it, that is what the next technical analysis video on USDJPY, with the trade idea to short (soon). The USDJPY trade idea includes 6 sell orders, in order to scale in the postition, and average out a more attractive entry price (this also mitigates risk, allowing the stop loss to be pushed out further without significanly compromising the reward vs risk ratio)

• If and when the target profit will be reached, for this swing trade, then 80% of the position will be taken out, and 20% kept, and the stop loss will be moved down to the entry point. If the stop is hit, there is a loss of 1.58%. For this specific Japanese Yen trade idea, stay tuned for future updates on this page!

Serious USDJPY traders should watch the entire USDJPY technical analysis video above and trade the Yen at their own risk only. Visit ForexLive.com for a variety of other technical analysis opinions and perspective.

Further updates will be provided here in the future (the latest one is at the top of this page). Stay tuned to ForexLive.com and this URL.

/ USDJPY USD/JPY The USD/JPY is the currency pair encompassing the dollar of the United States of America (symbol $, code USD), and the Japanese yen of Japan (symbol ¥, code JPY). The pair’s rate indicates how many Japanese yen are needed in order to purchase one US dollar. For example, when the USD/JPY is trading at 100.00, it means 1 US dollar is equivalent to 100 Japanese yen. The US dollar (USD) is the world’s most traded currency, whilst the Japanese yen is the world’s third most traded currency, resulting The USD/JPY is the currency pair encompassing the dollar of the United States of America (symbol $, code USD), and the Japanese yen of Japan (symbol ¥, code JPY). The pair’s rate indicates how many Japanese yen are needed in order to purchase one US dollar. For example, when the USD/JPY is trading at 100.00, it means 1 US dollar is equivalent to 100 Japanese yen. The US dollar (USD) is the world’s most traded currency, whilst the Japanese yen is the world’s third most traded currency, resulting Read this Term