We Profited Together on USDJPY Last Week

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ANALYSIS ON USDJPY DURING THE MEETUP

On 16th October (Monday), we held our free weekly Alpha Play Weekly Traders Meetup, during which we shared our analysis and insights on upcoming news events to watch out for the week ahead.

One of the currency pairs that we shared and analysed with the community of traders is the US Dollar against the Japanese Yen pair (USDJPY). Watch the short video recording below and have a glimpse into how we analysed the USDJPY pair last week.

It was an exciting time because it was the government election period for Japan and usually during such events there would be huge moves for the currency in question.

*To protect our traders’ interest, not all pairs and details will be discussed in this post.

HOW WE TRADED THE USDJPY PAIR

It was an exciting time because it was the government election period for Japan and usually during such events there would be huge moves for the currency in question.
 
Throughout the week, we continued to monitor the USDJPY pair together with the community; and as price developed and gave us more ‘clue’ as to what structure it was establishing, it became quite clear how we should engage the trade.
 
In short, we decided to go long (buy) on USDJPY, due to the following observations –
  1. Price has been ‘crawling’ down;
  2. A divergence is formed on RSI; and
  3. Price broke above structure based on a downtrend line.

For attendees who took action and traded along with us, the market presented more than +100 pips of profits, or more than $1000 if traded on a lot size.

Below is a great analysis shared by an Alpha Play graduate, Mr Tan –

 

USDJPY Before

USDJPY After

OUR ATTENDEES MADE MONEY!

For attendees who took action and traded along with us, the market presented more than +100 pips of profits, or more than $1000 if traded on a lot size.
The best part was, they got these information for free!
 
Scroll down below to sign up for our Weekly Traders Meetup, absolutely free!

Trading Tip: “Making money is not about luck. It’s about having the right knowledge and the right mindset.” – Daniel Kertcher

A shoutout to Edwin for profiting from the USDJPY trade too!

THIS WEEK'S FOCUS

Looking at the risk events happening this week, our focus will be on the follow 3 currencies:

  1. AUD
  2. CAD
  3. EUR

In this post, we would like to share one of the potential setups that we are monitoring, the Australian Dollar against the Japanese Yen (AUDJPY) pair.

After the fall in price from the recent high at 90.29 on 21st Sept to the recent low at 87.24 on 21st Oct, price has been developing in a corrective nature.

This gives us the bias in looking for a short setup on AUDJPY, targeting 86.02.

ATTEND OUR NEXT WEEKLY FOREX MEETUP

30TH OCTOBER 2017

A free weekly meet-up where Alpha Play coaches share our outlook on the current market trends for currencies and how current affairs will affect the financial markets over the short and medium terms. This information is useful to Forex traders and even non traders curious about currencies trading.

*** Limited seats available so be sure to book yours fast! ***

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A self-taught trader, Kar Yong was once featured in Channel News Asia’s Money Mind Young Investor. He was also featured as a Social Guru on the eToro social trading platform where he led the path for more than a thousand traders in confusing market conditions by sharing his trading strategies through forums and blog posts. Today, he teaches his proprietary 4 Pillar Forex Trading Strategy to students from all over the world.

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