Trading signal 23 05

The USDJPY awaits the confirmation signal – Analysis - 23-05-2019

Trades must be entered from 8am New York time until 5pm Tokyo time, over the next hour period only.

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Short Trade Short entry following a bearish price action reversal on the H1 time frame immediately upon the next touch of Put the stop loss 1 pip above the local swing high. Adjust the stop loss to break even once the trade is 20 pips in profit. Long Trades Long entry following a bullish price action reversal on the H1 time frame immediately upon the next touch of Put the stop loss 1 pip below the trading signal 23 05 swing low.

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I had a very cautiously bullish bias. There was no move above Dollar has been quite firm.

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The sharp downwards movement seems like it might be halted now by a supportive long-term trend line. If that breaks, the support just below that at There is short-term bearish momentum, but no wider trend in this pair which can be exploited.

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Although there is new resistance at I have no bias as I think the price is like to settle and consolidate over the coming hours, at least until the FOMC release due later. There is nothing due today concerning the JPY. Top Forex Brokers.

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