On H4 chart we can see that USDJPY remains in downtrend and stochastic is overbought. On the hourly chart, the price has pulled back again to within the resistance area at 109.269-109.687, and stochastic has crossed down.

My plan is to go short on USDJPY bearish signal confirmation within the intraday resistance area with 109.011 as target and 108.594 in extension.

Be careful if the market managed to break above 109.687 once again because it will turn the bias to bullish and possibly will push USDJPY up to 109.945-110.362.

Plan: Sell on bearish setup confirmation within 109.269-109.687; target at 109.011 or 108.594

USDJPY Chart:

2 thoughts on “USDJPY Daily Technical Trading Strategy; August 24, 2017”

  1. Dimitar Ivanov says:

    Does anyone know why is there no new webinars?

    1. Maryna says:

      Wayne did not have a webinar yesterday only as he is flying back home from Hong Kong. He could not post recording while in Hong Kong, but had live webinars, except for yesterday. He will have a webinar today.

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