USDJPY Ichimoku Trading Strategy (Long)

Took a look at the currencies, and found a trading opportunity in USDJPY.

The trade was based on one of the ichimoku concepts. A conservative position was established.

While tenkan-sen was below kijun-sen, price was trading above the kijun-sen. In addition, price was going into the kumo cloud range.

More encouraging was the chikou-span had cut above the kijun-sen. This was critical as it often meant a squeeze to the position holder trading below the kijun-sen.

Opportunities to look for to add in positions:

• Price penetrated above the kumo cloud.
• Tenkan-sen cut above kijun-sen, and price above tenkan-sen.
• chikou span traded above the kumo cloud.

Ciao.