empty
20.11.2024 09:31 AM
USD/JPY: Simple Trading Tips for Beginner Traders on November 20. Analysis of Yesterday's Forex Trades

Analysis of Trades and Trading Recommendations for the Japanese Yen

The test of the price level at 154.14 occurred when the MACD indicator had moved significantly above the zero mark, which limited the pair's upward potential, especially given the pressure on the dollar during the first half of the day. Shortly after, a second test of the 154.14 level coincided with the MACD indicator being in the overbought zone. This led to the realization of Scenario #2 for selling, resulting in a drop in the dollar by more than 60 pips.

Despite remarks by Bank of Japan Governor Kazuo Ueda that significantly impacted financial markets and strengthened the yen, the US dollar is gradually regaining its dominant position. Although Ueda emphasized the need to maintain current monetary policy measures to raise interest rates, he refrained from hinting at possible future changes, which caused investor anxiety.

Today's data on changes in equipment orders in Japan confirmed economists' forecasts of steady growth in this sector. In particular, amid the global economic recovery, Japanese manufacturers have resumed investments in capital assets, signaling optimism among businesses. However, this has not significantly supported the yen, which continues to lose ground against the dollar. I will focus primarily on Scenario #1 and #2 for the intraday strategy.

This image is no longer relevant

Buy Scenarios

Scenario #1:

Plan to buy USD/JPY today if the pair reaches the entry point around 155.64 (green line on the chart), targeting a rise to 156.50 (thicker green line). Around 156.50, I plan to exit the buys and open sell positions in anticipation of a 30–35 pip move in the opposite direction. Growth is possible, but it's better to buy on corrections. Important! Before buying, ensure the MACD indicator is above the zero line and starting to rise.

Scenario #2:

I also plan to buy USD/JPY today if there are two consecutive tests of the 155.04 price level while the MACD indicator is in the oversold zone. This will limit the pair's downward potential and trigger an upward reversal. Expected targets for this move are 155.64 and 156.50.

Selling Scenarios

Scenario #1:

The plan is to sell USD/JPY today after the 155.04 level is breached (red line on the chart), likely leading to a rapid decline in the pair. The key target for sellers will be 153.74, where I plan to exit short positions and immediately open long positions, expecting a 20–25 pip move in the opposite direction. Downward pressure on the pair could persist, especially in the first half of the day. Important! Before selling, ensure the MACD indicator is below the zero line and starting to decline.

Scenario #2:

I also plan to sell USD/JPY today if there are two consecutive tests of the 155.64 price level while the MACD indicator is in the overbought zone. This will limit the pair's upward potential and lead to a downward reversal. Expected targets for this move are 155.04 and 154.25.

This image is no longer relevant

What's on the Chart:

  • Thin green line: Entry price for buying the trading instrument.
  • Thick green line: A suggested target for Take Profit or manually locking in profits, as further growth above this level is unlikely.
  • Thin red line: Entry price for selling the trading instrument.
  • Thick red line: A suggested target for Take Profit or manually locking in profits, as further decline below this level is unlikely.
  • MACD Indicator: Critical for identifying overbought and oversold zones to guide market entry decisions.

Important Notes for Beginner Forex Traders:

  • Always approach market entry decisions cautiously.
  • Avoid trading during major news releases to sidestep volatile price swings.
  • If trading during news releases, always set stop-loss orders to minimize losses.
  • Trading without stop-loss orders or money management practices can quickly deplete your deposit, especially when using large volumes.
  • A clear trading plan, like the one outlined above, is essential for successful trading. Spontaneous trading decisions based on current market conditions are inherently disadvantageous for intraday traders.
Seleccione el marco de tiempo
5
min
15
min
30
min
1
hora
4
horas
1
día
1
s.
Gana con los cambios en el valor de las criptomonedas con InstaForex.
Descarga MetaTrader 4 y abre tu primera operación.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    UNIRSE AL CONCURSO

Recommended Stories

El S&P 500 asalta la cima. Informes sólidos y desregulación como detonantes del optimismo del mercado

El mercado bursátil vuelve a subir, con el S&P 500 en la cúspide de la euforia. ¿Qué será lo próximo? ¿Los aranceles y la política de la Reserva Federal reforzarán

Anna Zotova 10:18 2025-01-24 UTC+2

El S&P 500 está en la cima de la ola. Han aparecido síntomas de un mercado bajista

El jueves, los futuros de las acciones estadounidenses permanecen prácticamente sin cambios después de un impresionante rally en la sesión de trading anterior, cuando el S&P 500 alcanzó máximos históricos

Anna Zotova 09:58 2025-01-23 UTC+2

S&P 500. Sesgo alcista. El mercado sube con la vista puesta en Trump

Los futuros de las acciones estadounidenses registran ganancias el miércoles, tras el sólido repunte de la víspera. El martes, el índice S&P 500 subió un 0,88% y el Nasdaq sumó

Anna Zotova 10:28 2025-01-22 UTC+2

Petróleo y gas. Perspectivas para la semana

El petróleo Brent muestra un descenso, pero sigue negociándose por encima de los $80 por barril. No se descarta un fortalecimiento de la corrección hasta el rango de los $77,5-78,0

Anna Zotova 11:06 2025-01-20 UTC+2

USD/JPY: consejos simples para operar para traders principiantes el 17 de enero. Análisis de las operaciones de ayer en forex.

Análisis de operaciones y consejos para operar con el yen japonés La prueba del precio 155.96 coincidió con el momento en que el indicador MACD apenas comenzaba a moverse hacia

Jakub Novak 07:29 2025-01-17 UTC+2

GBP/USD: consejos simples para operar para traders principiantes el 17 de enero. Análisis de las operaciones de ayer en forex.

Análisis de operaciones y consejos para operar con la libra esterlina. La primera prueba del precio 1.2184 en la segunda mitad del día coincidió con el momento

Jakub Novak 07:29 2025-01-17 UTC+2

EUR/USD: consejos simples para operar para traders principiantes el 17 de enero. Análisis de las operaciones de ayer en forex.

Análisis de las operaciones y consejos para operar con el euro. La prueba del precio 1.0282 en la segunda mitad del día coincidió con el momento en que el indicador

Jakub Novak 07:29 2025-01-17 UTC+2

USD/JPY: consejos simples para operar para traders principiantes el 10 de enero. Análisis de las operaciones de ayer en Forex

Análisis de las operaciones y consejos para operar con el yen japonés La prueba del nivel de precio 157.98 coincidió con el momento en que el indicador MACD había descendido

Jakub Novak 08:05 2025-01-10 UTC+2

GBP/USD: consejos simples para operar para traders principiantes el 10 de enero. Análisis de las operaciones de ayer en Forex

Análisis de las operaciones y consejos para operar con la libra esterlina La prueba del nivel de precio 1.2301 durante la segunda mitad del día coincidió con el momento

Jakub Novak 08:05 2025-01-10 UTC+2

EUR/USD: consejos simples para operar para traders principiantes el 10 de enero. Análisis de las operaciones de ayer en Forex

Análisis de las operaciones y consejos para operar con el euro La prueba del nivel de precio 1.0317 durante la segunda mitad del día coincidió con un momento

Jakub Novak 08:05 2025-01-10 UTC+2
¿No puede hablar ahora mismo?
Ingrese su pregunta en el chat.
Widget callback