Hello Traders, I’m Mani and I’m the writer of Trade 77 section, please follow me on twitter for further updates.
Many traders won’t trade on NFP day specially when we have the first NFP of the year. My style of trading is the same as these traders except some situations. Such an important NFP days could change market sentiment and it’s very important to watch the market and price action after news came out.
For USDJPY I like to chase 84.30-84.50 resistant area; This is a great level and I will consider to go long after break of this level.
This level has shown that it has got a great strength, castle of the bears are there and they are waiting for the bulls to come again. In this try maybe bulls have got a better plan to win the fight. Price action will show us the result of the fight, so be patient and wait for the news, surely there will be great trades in the next week.
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Winner’s Edge Trading, as seen on: