Rajandran R Creator of OpenAlgo - OpenSource Algo Trading framework for Indian Traders. Building GenAI Applications. Telecom Engineer turned Full-time Derivative Trader. Mostly Trading Nifty, Banknifty, High Liquid Stock Derivatives. Trading the Markets Since 2006 onwards. Using Market Profile and Orderflow for more than a decade. Designed and published 100+ open source trading systems on various trading tools. Strongly believe that market understanding and robust trading frameworks are the key to the trading success. Building Algo Platforms, Writing about Markets, Trading System Design, Market Sentiment, Trading Softwares & Trading Nuances since 2007 onwards. Author of Marketcalls.in

USDJPY – Short Term Bottom Done Again as Korean Fears Fade?

26 sec read

USDJPY tested April 2017 low on fears that Pyongyang (North Korea) would launch another missile test over the weekend, which had added to last Friday’s USDJPY selloff. Last friday Yen had made a low around 107.32 followed by a strong pullback on monday leaving a strong tail on the bar chart again. Its the second time the pattern is repeating on north korea fears with a short term trade setup.

Trading sentiment turned to positive . However a follow through rally is anticipated in USDJPY and has the high probability to establish a short term trend reversal.

Support Zone in USDJPY comes around 107.25. Any possible trend reversal could test a possible resistance zone around 111 in the near term.

Rajandran R Creator of OpenAlgo - OpenSource Algo Trading framework for Indian Traders. Building GenAI Applications. Telecom Engineer turned Full-time Derivative Trader. Mostly Trading Nifty, Banknifty, High Liquid Stock Derivatives. Trading the Markets Since 2006 onwards. Using Market Profile and Orderflow for more than a decade. Designed and published 100+ open source trading systems on various trading tools. Strongly believe that market understanding and robust trading frameworks are the key to the trading success. Building Algo Platforms, Writing about Markets, Trading System Design, Market Sentiment, Trading Softwares & Trading Nuances since 2007 onwards. Author of Marketcalls.in

UPI123PAY: A Simple Guide to Digital Payments for Feature…

In recent years, the Unified Payment Interface (UPI) has redefined the way we make financial transactions in India. With its seamless money transfer capabilities,...
Rajandran R
4 min read

ChatGPT4 Interpretation About USDINR Price Action Analysis

I'm impressed by the analytical and reasoning capabilities of ChatGPT4, which inspired me to evaluate its image-processing skills, specifically in interpreting basic candlestick charts....
Rajandran R
2 min read

Simplifying Money Transfers: The New IMPS Rule

In today's fast-paced world, the ease of online money transfers has become an indispensable part of our financial lives. Whether it's paying bills, sending...
Rajandran R
2 min read

One Reply to “USDJPY – Short Term Bottom Done Again as Korean…”

Leave a Reply

Get Notifications, Alerts on Market Updates, Trading Tools, Automation & More