empty
29.11.2024 03:21 PM
USD/JPY: Simple Trading Tips for Beginner Traders on November 29th (U.S. Session)

Analysis of Trades and Tips for Trading the Japanese YenThe test of 149.46 in the first half of the day coincided with the MACD indicator beginning to decline from zero, confirming a valid entry point to sell the dollar. As a result, the pair dropped by 40 points. Tokyo's inflation data today continues to support demand for the yen while pressuring the US dollar, as the divergence between central bank policies becomes less pronounced. Rising prices for goods and services are stimulating consumer demand and, in turn, strengthening the yen. This development may prompt the Bank of Japan to consider shifting from its dovish monetary policy toward interest rate hikes.

For the second half of the day, the absence of significant US economic data makes substantial growth in USD/JPY unlikely. At most, a slight correction may occur, which large sellers are likely to capitalize on. For intraday strategies, I will focus primarily on implementing Scenario 1 and Scenario 2.

This image is no longer relevant

Buy Signal

Scenario 1:Today, I plan to buy USD/JPY at 150.17 (green line on the chart), targeting 150.69 (thicker green line on the chart). At 150.69, I will exit long positions and open short positions in the opposite direction, aiming for a 30–35 point pullback. The pair's rise is likely part of a correction.Important: Before buying, ensure the MACD indicator is above zero and beginning to rise.

Scenario 2:I also plan to buy USD/JPY if the price tests the 149.72 level twice while the MACD indicator is in oversold territory. This setup may limit the pair's downward potential and lead to a reversal upward. Potential targets for growth are 150.17 and 150.69.

Sell Signal

Scenario 1:I plan to sell USD/JPY after it breaks below 149.72 (red line on the chart), potentially triggering a quick decline. The key target for sellers will be 149.19, where I will exit short positions and consider buying immediately for a 20–25 point pullback. A larger correction may increase the likelihood of renewed selling pressure on the pair.Important: Before selling, ensure the MACD indicator is below zero and beginning to decline.

Scenario 2:I also plan to sell USD/JPY today if the price tests the 150.17 level twice while the MACD indicator is in overbought territory. This setup may limit the pair's upward potential and lead to a reversal downward. Potential targets for the decline are 149.72 and 149.19.

This image is no longer relevant

Chart Details

  • Thin Green Line: Entry price for buying the instrument.
  • Thick Green Line: Target price to set Take Profit or manually close trades, as further growth above this level is unlikely.
  • Thin Red Line: Entry price for selling the instrument.
  • Thick Red Line: Target price to set Take Profit or manually close trades, as further declines below this level are unlikely.
  • MACD Indicator: Monitor overbought and oversold zones as signals for potential market entry points.

Important Notes for Beginner Forex TradersExercise caution when making market entry decisions. Avoid trading during the release of major fundamental reports to minimize exposure to sharp price movements.Always use stop-loss orders to limit potential losses. Without them, you risk losing your deposit quickly, especially when trading large volumes without proper money management.Stick to a well-defined trading plan, such as the one outlined above, to maintain consistency and reduce risk. Unplanned trading decisions based on market conditions often result in losses for intraday traders.

Jakub Novak,
Analytical expert of InstaForex
© 2007-2025
Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

USD/JPY: Simple Trading Tips for Beginner Traders on January 15th (U.S. Session)

The test of the 157.15 price level coincided with the MACD indicator already moving significantly downward from the zero line, limiting the pair's downward potential. For this reason, I avoided

Jakub Novak 13:20 2025-01-15 UTC+2

GBP/USD: Simple Trading Tips for Beginner Traders on January 15th (U.S. Session)

The test of the 1.2215 price level in the first half of the day coincided with the MACD indicator just starting to move upward from the zero line, confirming

Jakub Novak 13:16 2025-01-15 UTC+2

EUR/USD: Simple Trading Tips for Beginner Traders on January 15th (U.S. Session)

The test of the 1.0309 price level coincided with the MACD indicator being significantly above the zero mark, which limited the pair's upward potential. For this reason, I refrained from

Jakub Novak 13:09 2025-01-15 UTC+2

USD/JPY: Simple Trading Tips for Beginner Traders on January 15. Analysis of Yesterday's Forex Trades

The test of the 158.10 level occurred when the MACD indicator had already risen significantly above the zero line, which limited the dollar's upside potential. For this reason, I chose

Jakub Novak 08:45 2025-01-15 UTC+2

GBP/USD: Simple Trading Tips for Beginner Traders on January 15. Analysis of Yesterday's Forex Trades

The first test of the 1.2160 level in the second half of the day coincided with the MACD indicator being significantly below the zero line, which limited the pound's downside

Jakub Novak 08:45 2025-01-15 UTC+2

EUR/USD: Simple Trading Tips for Beginner Traders on January 15. Analysis of Yesterday's Forex Trades

The test of the 1.0245 level in the second half of the day coincided with the MACD indicator moving significantly below the zero line, which limited the pair's downside potential

Jakub Novak 08:45 2025-01-15 UTC+2

EUR/JPY. Analysis and Forecast

The EUR/JPY pair is showing signs of recovery following a night-time rebound from the psychological level of 160.00, marking the monthly low. Uncertainty surrounding the timing of the Bank

Irina Yanina 13:02 2025-01-14 UTC+2

USD/JPY: Simple Trading Tips for Beginner Traders on January 14th (U.S. Session)

The test of the 157.81 price level during the first half of the day occurred when the MACD indicator had already moved significantly above the zero mark, limiting the pair's

Jakub Novak 12:53 2025-01-14 UTC+2

GBP/USD: Simple Trading Tips for Beginner Traders on January 14th (U.S. Session)

The test of the 1.2223 price level during the first half of the day occurred when the MACD indicator was just beginning to rise from the zero mark, confirming

Jakub Novak 12:51 2025-01-14 UTC+2

EUR/USD: Simple Trading Tips for Beginner Traders on January 14th (U.S. Session)

The test of the 1.0262 price level occurred when the MACD indicator was just starting to rise from the zero mark, confirming a proper entry point for buying the euro

Jakub Novak 12:47 2025-01-14 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.