Forex Trade Setup – Chart of the Week Sept. 6th

USDJPY – Daily Chart
After the strong gains to start last week, the pair did what its been doing for some time now – rejected off the 20ema which it has now rejected off of 11x before.  This shows the institutional market is watching this as an opportunity to sell.  We have written about this before and talked about it several times so hopefully you got one of the last plays off of it since we started writing about it but the play still holds and after last weeks strong rejection off of it, one can say the play should hold up again.  The pair is coming into some critical lows at 83.60 which have held 2x before and if it holds up again, bulls can take a play off this low with tight stops or just wait for another play off the 20ema to sell it again so plays on both sides here while using the other side of the fence to take profits.

This is just some of the techniques and methods we use to trade the markets.  If you are interested in learning these methods further, then make sure to check out our Advanced Ichimoku and Price Action Courses for further training where you can also join a community of traders and get permanent access to our forum for continual education.  For more information about our services, visit

Want More? My private members get all my trade ideas & market commentary up to 3x per week. Click here to become a member.

Buddhist, Trader and Philanthropist

I'm Chris Capre, Founder of 2ndSkiesForex. I help traders of all levels change the way they think, trade and perform. As a professional trader, I specialize in trading price action. As a teacher, my passion lies in showing you how to re-wire your brain for successful trading. Want to improve your edge right now? Visit my Price Action Course page.

Related Article