Why you should not buy USDJPY yet
The long target in USDJPY is clear: it is the October 2022 high at around 152.00.
Nevertheless, the bulls' efforts to reach this target have not been crowned with success so far.
For weeks, the USDJPY has lacked the courage to finally push through to the long-awaited target.
Is it now time?
From our point of view, no.
The reason is that there is a lot of liquidity in the area around 147.00.
It is unlikely that the USDJPY will head straight for the high without picking up this liquidity.
Anyone going long now will inevitably have an unfavorable RRR and there is a high risk that the trade will be stopped out.
Our long scenario puts a buy limit order on the 147.00 area.
If this is picked up, we can set a sensible stop loss and enjoy a great RRR of around 3.3:1.
Nevertheless, the bulls' efforts to reach this target have not been crowned with success so far.
For weeks, the USDJPY has lacked the courage to finally push through to the long-awaited target.
Is it now time?
From our point of view, no.
The reason is that there is a lot of liquidity in the area around 147.00.
It is unlikely that the USDJPY will head straight for the high without picking up this liquidity.
Anyone going long now will inevitably have an unfavorable RRR and there is a high risk that the trade will be stopped out.
Our long scenario puts a buy limit order on the 147.00 area.
If this is picked up, we can set a sensible stop loss and enjoy a great RRR of around 3.3:1.
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Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.