USDJPY pair jumped up so much on Friday after NFP result.

Unlike other USD pairs such as EURUSD, AUDUSD, this pair hasn’t shown any pullback yet.

2015-11-09_14-17-05-UJ1

However the price is already hitting MR2 + (Role Reversal) Resistance, I have to assume we will see some pullback from here.

For the next buy zones, our usual strategy of Buying from Fibonacci 38.2-61.8% should be applied.

However, in addition to that, I would like to add some more buy zones as well.

  1. Buy from Hourly 21EMA
  2. Buy from DPP
  3. Buy from WPP

WPP happens to be at Fibonacci 78.6%.  So typically we exclude this level.

But this time, since it was such as big move up, let’s consider WPP as well.

2015-11-09_14-21-22-UJ2

One more tip is… please check for Stochastic.  On a strong up-trend, typically Stochastic comes down only to 50%.  So when it comes down to 50%, please check for the price action on a smaller time frame.

 

Hope this analysis helps you build your own setup.

 

 

YJ Baik – Forex.Today @ Tokyo

 

 

One thought on “USDJPY Trade Setup (Nov 9)”

  1. Artem says:

    Thank you YJ

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