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USDJPY Stands Out In High Volatility Markets

Tues 1st August 2023 : Daily Forex Price Action

Today we’re looking at Trading Setups in:

  • USDJPY (Primary Focus Pair)
  • GBPAUD (Covered In Video)
  • AUDUSD (Covered In Video)
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Holiday trading is upon us, so it is key to remember we will be in high volatile, low volume markets and this could have a detrimental affect on how the strength and weakness tables switch throughout the day.

USDJPY stands out to us as price has traded through some key levels of resistance.

Not only this but our live forex strength vs weakness tables also highlight this pair for further bullish opportunities. 

Price has currently traded through the 142.00 prior highs and could continue to trade higher if the right conditions are met. 

A Fibonacci drawn from the lows to the current highs shows a 38.2 level resting at the 141.00 level.

This level could act as support if price were to trade towards it. 

In front of this level however, is the hourly 50 moving average which can act as support.

Live Forex Charts - USDJPY- Charles Clifton Forex Trader - 1-2-1 Forex Trader Training Courses - 01-08-23