Hello good morning how are you all? I hope you all are fine. My trades are getting stuck very badly but unfortunately neither I can close them nor open any other trades. But I am sure that my trades will test my target. Today I will share some short time trades setup in my trading journal which is USD JPY, EUR JPY, and CAD JPY.
USD JPY ASSESSMENT
I also shared the analysis of USD JPY a few days ago, and mentioned a support level which was located at 109.25 but the price of USD JPY did not break this support level. Today, when I analysed the USD JPY, it has broken this support level which I have mentioned above and Price has not yet retested the broken level. So the price of USD JPY can move upward again and test the resistance level which is 109.25. As soon as the price moves upward and tests the resistance level, you can sell from there and keep your target at the next support level which is located at 108.34.
EUR JPY ASSESSMENT
The price of EUR JPY is also trading at the top and is very close to the resistance level which is located at 130.64, So according to my analysis, this is the best time to sell the EUR JPY. If you analyse the EUR JPY in the four-hour chart, you can see that the price has tested the top level and is trying to move down. So you can sell it and keep your target at the support level which is 128.37. But on the other hand, if the EUR JPY breaks this resistance level which I have mentioned above and moves upward, then you have to wait and confirm the breakout. If the breakout confirmed, you can buy it and keep your target at the next resistance level 132.35.
CAD JPY ASSESSMENT
CAD JPY price was moving upward with speed but suddenly the price of CAD JPY started trading in a certain area and is still doing so. As you can see on my chart, I have created support level and resistance level and the price of CAD JPY is going upward by testing the support level which is located at 86.60. According to my analysis, if you want to buy CAD JPY, this is the best time to buy from the support level which I have mentioned above. You will set your positive target at the resistance level which is located at 80.22. I highly hope that CAD JPY breaks the resistance and will move upward. Good luck to all of you and have a great chance.