Forex Analysis Of USD/JPY For Monday, July 23

First, we look into the previous day trade and what happened on July 20, 2018, and the USD/JPY opened at 112.453 and went high at 112.611 and gone low 111.374 and finally closed at 111.393. The calculated pivot point for the day is 111.793.

The difference between high and low was nearly 1.237 points and there was a good chance for a trader to take the opportunity between low to high levels and finally benefited.

Now there is another opportunity, from high to higher levels for a few days due to the dollar becoming strong and the trade war with China. If EURUSD goes high USDJPY goes down and vice versa and watch the two pairs for trading before entering into a trade. For many days the range for this pair was between 109.360 to 114.740. Hourly traders especially three-hour chart followers are waiting for an opportunity to buy at 111.578, 112.073 levels or sell at 111.262, 110.977 levels to get maximum profit. 

LEVELS TO BE WATCHED FOR TRADERS FOR THEIR TRADING

EVENTS TO BE OBSERVED AT THESE TIMES TO TAKE MORE ADVANTAGE

USDJPY FUNDAMENTALS TODAY

See the levels in the Chart and trade accordingly:

(Click on image to enlarge)