FX.co ★ Analysis and trading tips for USD/JPY on September 15

Analysis of transactions and tips for trading USD/JPY

Further growth became limited because the first test of 147.23 coincided with the sharp rise of the MACD line from zero. The second test, on the other hand, occurred when the MACD line started to rise from zero, leading to a price increase of over 30 pips.

Dollar rose after the release of the US retail sales report. It also seems that the Bank of Japan will not intervene with the rates yet, so be cautious when trading, especially about buying at current highs.

Today, data on Japan's service sector activity came out, but it did not have the expected effect, as the pair continued to rise. Considering the fairly positive reports expected from the US this afternoon, yen will likely weaken, while dollar will continue to increase.

For long positions:

Buy when the price hits 147.60 (green line on the chart) and take profit at 146.06. Growth will occur within the context of a bull market and after strong reports from the US. However, when buying, ensure that the MACD line lies above zero or just starts to rise from it.

Also consider buying USD/JPY after two consecutive price tests of 147.34, but the MACD line should be in the oversold area as only by that will the market reverse to 147.60 and 148.06.

For short positions:

Sell when the price reaches 147.34 (red line on the chart) and take profit at 146.95. Pressure will return in the event of central bank intervention. However, when selling, ensure that the MACD line lies below zero or drops down from it.

Also consider selling USD/JPY after two consecutive price tests of 147.60, but the MACD line should be in the overbought area as only by that will the market reverse to 147.34 and 146.95.

What's on the chart:

Thin green line - entry price at which you can buy USD/JPY

Thick green line - estimated price where you can set Take-Profit (TP) or manually fix profits, as further growth above this level is unlikely.

Thin red line - entry price at which you can sell USD/JPY

Thick red line - estimated price where you can set Take-Profit (TP) or manually fix profits, as further decline below this level is unlikely.

MACD line- it is important to be guided by overbought and oversold areas when entering the market

Important: Novice traders need to be very careful when making decisions about entering the market. Before the release of important reports, it is best to stay out of the market to avoid being caught in sharp fluctuations in the rate. If you decide to trade during the release of news, then always place stop orders to minimize losses. Without placing stop orders, you can very quickly lose your entire deposit, especially if you do not use money management and trade large volumes.

And remember that for successful trading, you need to have a clear trading plan. Spontaneous trading decision based on the current market situation is an inherently losing strategy for an intraday trader.