Long usdjpy

[Alan Rich Online]

I told you a while back the Aussie Dollar is strong and really that should be the one I traded.

I also told you that when everyone was screaming to go short the Yen pairs because of an over bought RSI and other wonderful ideas they thought of, I said it could quite easily be a pullback or a consolidation. Which it has turned out to be.

What they really should have said: “It was a take profit level from the last leg up”. But of course they haven’t been trading it so they wouldn’t see it that way.

What I’m saying now is that the momentum has waned in the YEN and we have to be selective. The weaker currencies are lagging on this move against the YEN and I’d leave them alone and focus on the strong ones. I jumped on the USDJPY because of the Dollars strength but the Aussie Dollar is stronger.

Why did I focus on the YEN again? Mainly because so many people were talking about shorting the YEN pairs. I was even showed a video of a T/A guru telling all his followers to short the YEN pairs. I smiled and thought I must remember do the opposite to that when the time is right!

All I need is timing, good management and the right YEN pair plus an understanding of the right time to jump off, the rest is pure profit!

When the time comes to short the YEN pairs I will be on it but as I said its not yet. No matter what analysis is done by over analytical people who keep telling us what we should do.

This is one type of reason why people know how to trade but can’t make money. All of us that do trade for a living end up bumping into the over analytical brigade but we manage to steer through and focus on our trading rather than listen to their views.

 

[Daisy]

That is a good trend to scalp. I have had this happened to me with yen for like two weeks ago when most of the western currencies like euro, usd, gbp, aud was having this trend against the yen and one would really make some profit from it. I could have triple up my money in those trends and all often was trending like that all the time and even now so the yen is the safe haven they say and the yen has always worked for me. So I think people should try pairs against yen as well.

 

[lioneld]

I would be better if you added here suitable picture according to your analysis! Because, only long description is hard to pick up your main analysis! By the way, now I am with bearish momentum on USD/JPY.

 

[Tom Latham]

Hello Alan; unfortunately your picture is not working! By the way, I just got my SL on USDJPY! Basically, my strategy indicated me bullish trend and I opened a buy trade in the daily support level but I got my SL within the 4 hours.

 

[Svetlana Loboda]

What’s your current statement on USDJPY? I see, your trading system is only based on the technical; so what do you do in the FOMC & NFP?

 

[Max Trade]

There is no doubt USD and EUR is widely trading currency but now other currencies are also famous specially trading in bitcoins is becoming interesting for traders. In forex we mainly rely on major currency pairs . however other pairs should also try to change our trading style.

 

[Changer]

It's really very disappointing that the picture hasn't benn uploaded on the forum. Try to do the same through another storage service, as there're lots of people here willing to watch it.

 

[Lee Mark]

It's really very disappointing that the picture hasn't benn uploaded on the forum. Try to do the same through another storage service, as there're lots of people here willing to watch it.

Very important point! Without relevant chart, it’s really difficult to understand the point.

 

[Alexander Hudson]

Newbie traders prefer buying paid courses at their first attempt but I am not in favor of this decision because easy internet availability has made it easier for us to strengthen our basics.

 

[Eduardo Lucchese]

The more a trader understands the market, the more his profit-earning possibility is. If a trader wants, he can take lessons by seeing others’ market analysis.

 

[FXOpen Trader]

The more a trader understands the market, the more his profit-earning possibility is. If a trader wants, he can take lessons by seeing others’ market analysis.

We must try to manage our trades so that the profits we are getting is more for us.

 

[Eduardo Lucchese]

A secure broker provides traders with all necessary facilities like high security of funding, good amount of leverage, narrow spread in most of the pairs, flexible margin level, and other facilities moderately. But security is a hardly found factor nowadays.

 

[Oscar Shumack]

Discipline is missing in traders’ trading and it leads to anarchy. Traders can’t determine their direction and as a result they are quite unfortunate. Right broker selection is also highly essential for traders.

 

[Eduardo Lucchese]

Don’t trade randomly on the market because it will give you loss on average. The more you understand the market, the better it is for you.

 

[Alexander Hudson]

USDJPY is my favorite trading pair even though it is a little fast-moving pair. I understand this pair better than others.

 

[Eduardo Lucchese]

Losing money is a common phenomenon in Forex but don’t quit Forex for this reason because it’s all about foolishness.

 

[SaadBinToha]

Crypto trading is a great advantage for traders and many traders are relying on crypto trading because crypto isn’t so volatile as fiats.

 

[Aaron_0]

We see one-directional flow in this pair most of the time so it can be an advantage for those who can predict the right trend.