Technical Analysis Free Forex Signals USD/JPY Forex Signal - 19 June 2018 USD/JPY Forex Signal - 19 June 2018 Tuesday, 19 June 2018 13:40 Share 0 Tweet 0 Pin it 0 Yesterday's signals were not triggered, as there was no bullish price action at 110.09. Today’s USD/JPY Signals Risk 0.75%. Trades may only be taken from 8am New York time until 5pm Tokyo time, during the next 24-hour period. Short Trade Go short following a bearish price action reversal on the H1 time frame immediately upon the next touch of 110.09. Place 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. Take off 50% of the position as profit when the trade is 20 pips in profit and leave the remainder of the position to run. Long Trades Go long following a bullish price action reversal on the H1 time frame immediately upon the next touch of 109.60 or 109.07. 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 run. The best method to identify a classic “price action reversal” is for an hourly candle to close, such as a pin bar, a doji, an outside or even just an engulfing candle with a higher close. You can exploit these levels or zones by watching the price action that occurs at the given levels. USD/JPY Analysis I had a slightly bullish bias yesterday, which worked OK for a few hours as the price went sideways, until the threatened imposition of more tariffs by President Trump sent the Yen strengthening rapidly, pushing the price of this pair down by approximately one hundred pips within only a few hours. The price has now found support at 109.60 and is rising from there with impressive short-term momentum, suggesting that this bullish bounce is likely to have some follow-through. However overall, this pair does look very unpredictable and there are going to be better opportunities elsewhere. I have no directional bias today. There is nothing due concerning the JPY. Regarding the USD, there will be a release of Building Permits data at 1:30pm London time. Currency Pairs USD/JPY Adam Lemon Adam is a Forex trader who has worked within financial markets for over 12 years, including 6 years with Merrill Lynch. He is certified in Fund Management and Investment Management by the U.K. Chartered Institute for Securities & Investment. Learn more from Adam in his free lessons at FX Academy.