The USDJPY and EURUSD have been moving sideway for weeks and if you are looking to trade the trend, you will get into losses. However do not worry, once the market starts to trend, you will see that you will make back all your losses and turn your account into profits.
Therefore on Friday, I trade the range of the EURUSD and USDJPY and this gave all of us who are in my trade copier a good profits just from one day of trading.
Before the end of the market on Friday, I entered a SELL trade on the USDJPY when the price breaks through the major support which could marks the start of the down trend for USDJPY this week.
Below is the screenshot of the ongoing trade on the USDJPY.
Let me teach you how I can tell that the market is ranging
You just need to plot the 3 EMAs into your 15 minutes chart
When you see that they are crossing up and down, it is a sign that it is moving within a range and you can start to trade the range.
I have recorded a video to show you more about this technique
EURUSD Analysis For This Week
I will recommend that you continue to trade the range of this pair until it produced a valid breakout
USDJPY Analysis For This Week
I will recommend that you look to SHORT this pair for this week until it shows signs of ranging.
For those of you who are interested to join my trade copier service, you can find out more about the service below
Below is the link to details of my Trade Copier Service