How To Make Money Today: Daily Market Analysis and Forex Trading Signals 31 January 2022

To assist you to make a good day-trading selection, we’ll cover the newest forex market analysis and the trading strategy to use today. Make more money today with our market analysis. You must know how to trade first and have at least a simple understanding of chart patterns. Aside from that, we’ll cover some basic tips and methods that can aid anybody curious in day trading strategies. So let’s start by looking at some charts from today…

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USD/JPY:  

On the H4 chart, price is trading in an ascending channel and is near 1st support level of 115.058 which is also 23.6% Fibonacci retracement. Price can potentially go to the 1st resistance level of 116.362 which is also 100% Fibonacci projection and 127.2% Fibonacci retracement. Our bullish bias is supported by the ichimoku cloud indicator as price is trading above it. 

Areas of consideration: 

  • H4 1st support at 115.058
  • H4 1st resistance at 116.362
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