GD_futures

USDJPY Weekly Outlook 6/4/22

FX:USDJPY   U.S. Dollar / Japanese Yen
HTF:
UJ is at a very large scale monthly supply. It still hasn't gotten in deep, so I wouldn't necessarily entertain large scale shorts yet, but PA will lead the way.

Looking at the weekly chart we can see price is heading towards some recent highs. The strength on the move up + price wanting the edge of the zone makes me think these highs will be broken, longs are still on the table lower scale.

MTF:
Price has made it's way up to H4 supply. I do expect this to break, but a recent high has been faked out and clean orders seem to remain in the supply. Any shorts will be looked at conservatively as there is strong buying pressure below.

LTF:
10 min chart here. Price is reacting to the supply, have placed alert below for PA to entertain small scale shorts down to the big pole, which is clearly the origin of the move into the zone.

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