Rajandran R FollowTelecom Engineer turned Full-time Derivative Trader. Mostly Trading Nifty, Banknifty, USDINR and 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. Writing about Markets, Trading System Design, Market Sentiment, Trading Softwares & Trading Nuances since 2007 onwards. Author of Marketcalls.in and Co-Creator of Algomojo (Algorithmic Trading Platform for DIY Traders)
USDJPY Trend Analysis – Aug Overview
23 sec read
USDJPY Weekly Charts
[wp_ad_camp_5]
In our previous analysis on USDJPY (Jul Overview) we expected USDJPY to trade at 106 and that came really fast. And this post is the follow up of previous overview.
USDJPY is in the downtrend for the last 10 months. Overall Volatility and downtrend momentum weakened in the last 4 weeks with the sideways movement in USDJPY. The Psychological trading zone – Pairs parity 100 got whipsawed couple of times followed by a minor pullback last week. As the panic in USDJPY is fading away one can expect USDJPY to continue in the large consolidation zone and expecting to test 108 in the medium term.
USDJPY Daily Charts
Rajandran R FollowTelecom Engineer turned Full-time Derivative Trader. Mostly Trading Nifty, Banknifty, USDINR and 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. Writing about Markets, Trading System Design, Market Sentiment, Trading Softwares & Trading Nuances since 2007 onwards. Author of Marketcalls.in and Co-Creator of Algomojo (Algorithmic Trading Platform for DIY Traders)
Finally, the USDJPY strengthening came to an end from a short-term perspective. Last Friday USJPY rallied to 151.94 levels surging past the August 1990 high...
