In today’s live trading session, we went over the current status of our USDJPY trade idea. We then found a possible entry for EURJPY.
During yesterday’s session, we discussed the possibility of the DXY selling off to 92.19. The index has come very close to reaching this level and price action still remains bearish, We then completed technical analysis for USDJPY and found a perfect short opportunity. We entered the trade and are currently up +35 pips with more on the way.
As for EURJPY, this pair has dropped as expected during the London session. At the moment the price is resting at a previous low. We are looking to enter this trade once price clears this low on the two-hour timeframe. We believe this trade would be great to pair with our open USDJPY short.
In addition to these trades, we also have our eyes set on a possible swing short for NZDUSD. If price breaks above weekly resistance, we may shift our stance to a long. As always, be safe and trade responsibly!