USD/JPY Forex Signal - 25 August 2016

USD/JPY Signal Update

Yesterday’s signals were not triggered as neither of the key levels were ever reached.

Today’s USD/JPY Signals

Risk 0.75%

Trades may only be entered from 8am New York time to 5pm Tokyo time, during the next 24 hours.

 

Short Trades

  • Go short following a bearish price action reversal on the H1 time frame immediately upon the next touch of 101.00 or 101.50.

  • Place the stop loss 1 pip below the local swing low.

  • Adjust the stop loss to break even once the trade is 20 pips in profit.

  • Take off 50% of the position as profit when the trade is 20 pips in profit and leave the remainder of the position to ride.

 

Long Trade 1

  • Go long following a bullish price action reversal on the H1 time frame immediately upon the next touch of 99.00.

  • Place the stop loss 1 pip below the local swing low.

  • Adjust the stop loss to break even once the trade is 20 pips in profit.

  • Take off 50% of the position as profit when the trade is 20 pips in profit and leave the remainder of the position to ride.

USD/JPY Analysis

There is little to say about this pair, it remains within a tight range showing very choppy action. The price just continues to revolve around the 100.40 pivot which I identified in yesterday’s forecast

.USDJPY

There is nothing due today concerning the JPY. Regarding the USD, there will be a release of Core Durable Goods Orders and Unemployment Claims data at 1:30pm London time.

Adam Lemon

Adam Lemon began his role at DailyForex in 2013 when he was brought in as an in-house Chief Analyst. Adam trades Forex, stocks and other instruments in his own account. Adam believes that it is very possible for retail traders/investors to secure a positive return over time provided they limit their risks, follow trends, and persevere through short-term losing streaks – provided only reputable brokerages are used. He has previously worked within financial markets over a 12-year period, including 6 years with Merrill Lynch.