Forex Day Trading Forecast USDJPY for 19-02-2017

Looking for exiting week, with 3 currency to trade. Click on link, to view update of ours trading plans. ( look for the video, for back up trades)

Forex Day Trading Forecast USDJPY for 19-02-2017

Last week, thing did not go as well, as we wanted…but this week look much better.

Last week, there was quite exiting news, market went up, as was looking for, but then, with proper managing, you should be ready to get out around 10:00am Wednesday, for this week..I keep all same:

USD: US Dollar showing strong “buying signals”, and it’s why I’m not going against USD pair for this one.
GBP: With KIWI, taking easy for this week, GBP get stronger, it would be a great idea to keep our position in GBPNZD, and wait for next continuation.
AUD:…Look like it start to be week, but, it’s not clear yet. How ever trading AUDUSD would be a nice idea.
JPY: …planned 2 weeks ago, now it’s ready for our transaction. USDJPY, should be the winner for this week.

Let’s Plan our trade on USDJPY for this week.

Before going on USDJPY chart, let’s look how dollars index are doing.

What to look for?

Market Makers keep buying Dollars.
Down Trend / Flag was broken, and now we are in an Up Trend.
Dollar’s objective, re-test and go above last highs.

Now, let’s look on USDJPY daily time frame.

What should you see and understand?

Very clear… a great Break Out, last 2 weeks.
Nice reply, on 61% Fibonacci.
Back to my entry area ( green zone)
Great profits to take, by buying low and sell high.

Let’s find our Entry point, Calculate our Risk, and find out when to enter.

For USDJPY… by letting last week go, we should see a better entry points. This it’s why, you should never force anything.

My recommendation:

Entry, in the green zone, or at current price, once we get out from down trend.
Stop would be below green zone.
Targets, 2 options, sell some at the top, and keep the rest for the 125.500 points area.