USD/JPY is one of the major pairs we have in forex; it is the currency pairing between the United States Dollar (USD) and the Japanese yen (JPY). The USD is the base currency, and the JPY is the counter or quotes currency; If our USD JPY forex signals state a buy for the “USDJPY” pair, it means buying the USD in anticipation that it will appreciate against the JPY. USD/JPY currency pair is referred to as the “gopher”.
Our team of the competent analyst may decide to buy or sell the USD/JPY based on either their fundamental or technical analysis or a combination of both.
Fundamental data such as interest rates and Federal executive meeting of both the Federal Reserve (Fed) and the Bank of Japan (BoJ) will play a vital role in determining the direction in which the USDJPY pair we move.
At Nys Trading, we have a pure fundamental analyst who knows how to juxtapose these data and make profitable trade calls for our signal subscribers. Although, most times the chart is a reflection of these fundamental data and as such, both fundamental and technical analysis forms the basis for our decision to either sell or buy the USDJPY.
Our team of analyst can also choose a bias based on their technical analysis of the USDJPY market and decide to either buy or sell. USD JPY forex trade signals generated by our technical analysis are sent to subscribers stating the reasons behind our bias.
Does the USDJPY Trade Signals Come with Stop Loss and Take Profit?
Yes! Our USD JPY Forex trade signal is sent to our members with entry price, stop loss and take profit. Our risk-reward ratio is most time 1:3, 1:4; we try to find an appropriate entry such that our stop loss is not more than 100pips. The USD JPY forex signals may be an instant execution or pending order.
Instant Execution: Here, we send the entry price to subscribers, and we expect that they enter the trade at current market price, we send both the stop loss and take profit as well.
Sometimes, we may send just the entry price and stop loss alone and ask our subscribers to leave the take profit open. When we do this, we ensure to send updates later on the take profit, and this is done most times to enter the trade fast if there is an ongoing move already so as not to miss out.
Pending Orders: Our pending orders on USD JPY forex trade signals can be a buy stop, buy limit, sell stop, sell limit depending on our analysis and the current market price.
Whichever one it is, entry price, stop loss and take profit levels will be sent to our members, if the market price does not touch our entry, we will provide an update to either delete or keep the pending orders.