Is there any room left to trade the JPY crosses? (and currencies I’m trading/watching).
Hey trader, hope everything is going well on your end!
Since my last trade in the GBPJPY, I’ve been getting a lot of emails of traders asking me if there is any room left to trade the GBPJPY…
Now, let me tell you something, its not that I traded the GBPJPY because I like it, I traded because there was enough room to take a trade (good amount of pips by the way)… But right now, I dont thing its the right time to trade it again…
Because its trading near an important level!
But you dont have to worry about it! We are not here to trade only the GBPJPY, the idea is to find the clearest currency pairs to trade right now, the ones that have clear swings, clear levels, etc… And if you look at other JPY crosses, that’s exactly what you are going to find!
Here are a few of them…
Currency pairs I’m trading/watching
CADJPY, is still trading in a bullish condition, and the next LT level is at 106.47, we’ve got plenty of room to plan our trade.
USDJPY, also in a bullish condition, yesterday I took a trade here and I’m still holding it. The next LT level is at 122.56, so again, plenty of room to take this trade.
NZDJPY, same, next LT level is at 97.00… figure out the RRR here. This one has probably the greatest profit potential.
There are also other pairs that I’m trading/watching such as:
AUDNZD, In a very clear bearish condition, next LT level is at 1.0956
GBPCHF, Also in a very clear bearish condition, next LT level is at 1.4991
EURGBP, in a bullish condition, next LT resistance level is at 0.8025
Did you take advantage of the previous trade in the GBPJPY?
Are you monitoring other JPY crosses?
What do you think about the pairs I’m currently watching?
Share your thoughts!