In this Daily Trade Watch report, we look for high probability trade setups that we can trade throughout the day. Today, we advise you to keep your eyes on the JPY.
Firstly, we would like to wish you a Happy New Year and welcome back to TheLiveTradeRoom! We are looking forward to a fascinating and profit fuelled year ahead of us.
So, looking at the charts, we have identified a couple of high probability trades in the JPY markets. These trades really stack up for us from a technical perspective.
We can see that the price action in the GBPJPY has recently pulled back to a strong level of support and resistance around the 139.50 level before rolling back over to the downside. This is our trigger to enter this trade but only if we get a break below yesterday’s low of 138.00. You can see a similar setup in the EURJPY. However, it is just our preference to marginally favour the GBPJPY at this time.
Keep Your Eyes on the JPY – Full Video Analysis
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