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USDJPY long term supports

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Usdjpy is a buy on long term supports.Currencies usually work on support resistances .Economies rarely change much in terms of interest rates expectations.

 

I like the price action on USDJPY  but I prefer momentum to take  bigger positions.Also Eur usd must be weak and dollar strong against other currencies.

 

usd jpy buy.jpgusd yen.jpgusd jpy short term.jpga

 

 

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Usdyen does not have bullish large candles yet, these would signify a change in supply demand.I did a few scalps today with tight stops.Euro is looking   well supported, so dollar has resistance against all.

 

It is not a buy for a serious trade, until it breaks above the diagnol resistance line 11120.Bear in mind any trade can breakdown.

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Professionals trade forex when there are expected rises or falls in interest rates, random technical analysis trading is by amateurs who know nowt.

 

Goldman Sachs Predicts That the Fed Will Hike Interest Rates Four Times in 2018

Goldman Sachs said it expects a tight U.S. labor market and more normal inflation picture will lead the Federal Reserve to hike interest rates four times next year.

 

http://fortune.com/2017/11/20/goldman-sachs-federal-reserve-interest-rates-2018/

 

How do I  trade this and speculate?

 

I will buy  every fall in usd jpy in 2018 , either with cash or option spreads.

 

RISK WARNING:no trading analysis, signal or advice  is guaranteed to make money, and the past performance  of an analyst  can be easily raise  false beliefs about future performance of signals . Past performance can't be easily misinterpreted by those new to trading who could follow a signals without proper due diligence on the validity of those analysis. It can also be misinterpreted and used incorrectly by experienced traders.

 

If you are new to trading please make sure you know the risk associated with your trade and don't simply follow a online signals, analysis  and recommendations.

 

[Mod edit: excessive formatting]

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