USDJPY pais has dropped significantly yesterday.

Now the price is in the major support zone (121.50).

2015-12-10_14-33-41-UJ1

 

The question is… is the price going up or down, right?  🙂

Here is Weekly Ichimoku.

I think it is safe to say the candles are supported by the Cloud so far.  Even if the price drops a bit, then both Kijun line and Tenkan line can be another supports.

2015-12-10_14-34-36-UJ3

 

Also here is the Daily Ichimoku. Well there is still some space left between candles and the Cloud.  But overall, I can see the price will go up with the Cloud support.

2015-12-10_14-38-45-UJ4

Remember, every YEN traders in Japan checks Ichimoku charts.

So I would like to look for Long opportunity from here.

I will wait for Higher High on Hourly chart.   Perhaps the price will hit 21EMA and drop from there.

Then I will buy this pair from Higher Low.

2015-12-10_14-40-38-UJ5

 

Hope this analysis helps you build your own trade setup.

 

 

PS: GBPJPY seems to be similar.  Why don’t you try to setup GBPJPY trade setup as well?

 

YJ Baik – Forex.Today @ Tokyo

 

 

 

4 thoughts on “USDJPY Trade Setup (Dec 10)”

  1. daniel chan says:

    Thanks YJ for your analysis.

    1. YJ Baik - Forex.Today says:

      Daniel,

      When will you start posting your Analysis/Trade setups????? 🙂

      Best,
      YJ

  2. luie Mo says:

    Thanks YJ, I was thinking the same thing, but your idea pictures very well the set up, thanks again

    1. YJ Baik - Forex.Today says:

      Thanks Luie, for your comment.

      I hope you bought this pair yesterday. I am up 60 pips now.

      Regards,

      YJ

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