ZuluTrade Blog

USDJPY Daily Trading Plan

Market View | Thursday, June 15, 2017 7:51 AM GMT

This analysis may give two potential trading setups by providing entries as well as exits. We keep it really simple and straightforward. Always review your own analysis, if there is confluence between this and your own strategy, then you may have even better trading setups.

On the chart, two levels indicate the BUY (green) and SELL (red) entries. If price triggers the BUY order, then the SELL is cancelled and vice versa.

On the data table, you get supports and resistances as well as the trending bias, Upwards / Downwards / Neutral. We are more confident when the trading bias agrees with entry type, meaning BUY entry when it is Upwards and SELL entry when it is Downwards. 

BUY scenario: Higher Resistances, than BUY entry, act as possible targets and Lower Supports/Resistances, than BUY entry, act as possible exits.

SELL scenario:  Lower Supports, than SELL entry, act as possible targets and Higher Resistances/Supports, than SELL entry act as possible exits.

Trading Plan
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