USDJPY Open in the Buy zone of weekly pivot WM2 to WPP area . Bull will for buying opportunity like 123 pattern of higher high with pullback to buy

USDJPY H4 ( 4 Sept , 2017 )

USDJPY open in the buy zone about 109.50 area and it is 50% of the last week swing Bull will look for buying opportunity when a reversal pattern occurs.

USDJPY H1 ( 4 Sept , 2017 )

Use a lower time frame H1 look for reversal pattern to long about 109.50 SL 109 TP 111.50 weekly pivot WM2 to WM4 move

12 thoughts on “USDJPY Trade Plan ( 4 Sept , 2017)”

  1. nice post Daniel,do you think its good for me to buy now ?

    1. Daniel Chan - Forex.Today says:

      Thanks Gertrude , when to buy is depend on your trade plan . for few days or few hours . I will buy between WPP and WM2 ( 109.7 to 109.2) . Provided no more tension from North Korea . This is assuming trader coming back risk on environment.

      1. Gertrude Benson says:

        oh okay,Thanks a lot Daniel for the help I appreciate it. ๐Ÿ™‚

  2. Pedro says:

    Awesome plan Daniel!!!….by the way what do you use to draw those arrows on your charts?, it looks nice & neat.

    1. Daniel Chan - Forex.Today says:

      Thanks Pedro . I use SNAGIT bought it online $50.

      1. Pedro says:

        Thanks, i’ll look it up.

  3. Joรฃo Andrรฉ says:

    Nice post as always, Daniel.

    The only setback is definitely the North Korean crysis. These past weeks have proved that it will take a bigger aggravation for us to have a clear risk off environment, but things seem to be escalating way faster than I’d thought.

    1. Daniel Chan - Forex.Today says:

      Thanks Jaao , ๐Ÿ™‚

  4. Dalmas Ngetich - FOREX.TODAY says:

    Welcome back Dan. it has been a while.

    1. Daniel Chan - Forex.Today says:

      Thanks Dalmas , nice to see you .

  5. Maryna says:

    Hey Daniel, great to see you back! Haydeer also posted a USDJPY trade idea on which I commented that a buy should only be considered if the pair closes above the 109.850 level on the Daily chart. This level is holding bulls back thus far as I expected as a bear on USD, but I understand you use Pivot theory and your reason for wanting to buy as a bull.

    1. Daniel Chan - Forex.Today says:

      Thanks Maryna ๐Ÿ™‚ North Korea tension could changes all the Yen pair outcome . Risk Off wind blowing . ๐Ÿ™‚

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