USDJPY | Perspective for the new week | follow-up details

Since the last publication; price action moved over 400 pips in our direction (see link below for reference purposes) as the Greenback rose 0.6% to close the week just below the 135.000 zone. The Japanese yen was among the worst-hit Asian currencies as the US Dollar hit a six-week high against a basket of currencies after stronger-than-expected inflation readings and hawkish comments from Federal Reserve. This video illustrates what we should be expecting from the current market structure in the coming week as price action trades between the 133.900 and 135.000 range.

00:50 Reference to last week's daily commentaries and results
05:30 USDJPY analysis on Daily Timeframe
09:50 Macroeconomic event for the week
11:00 USDJPY analysis on the 4H Timeframe
13:10 Conclusion on next week's projections

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Past performance is not necessarily indicative of future results.

Trade active:

The week started on a bullish note but sellers reject attempts to break out of the 134.500 level, making this level the first resistance point for the week. Selling pressure from this level broke down to the level where the price started the week at 134.150. So, we want to see continued selling pressure below 134.150 for selling opportunities. Update coming up soon

Good morning

Trade active:

A second look at the current structure on the 1H timeframe reveals the appearance of buying pressure around the 134.000 zone since last Friday. Hence, the need to put a hold on any selling expectations around this zone. The current candle looks bullish but we need to be patient for it to close before making any buying decision (need some retest of structure). However, a breakout/retest of the 134.500 will be welcoming buying opportunities. Update coming up soon

Trade active:

A breakdown of the demand zone will welcome selling opportunities

Trade active:

Buy pressure resumes, secure buy positions

Good morning

Trade active:

Trade active:

Just as discussed during our live session this morning (see video replay on my channel); secure all positions as we have 3 positions running in profit.

Comment:

Please note that a breakdown of the 134.500 level and trend line has a tendency of negating bullish momentum in this current market structure.

Trade active:

Price action gradually approaches the 135 level, secure all buy positions

Trade active:

Price action finally breaks out the 135.000 level for the first time this year but this was followed by selling pressure. I still hold on to a bullish bias as long as remains above the bullish trendline. I will be sharing a trading set-up in the lower time frame in a moment.

Trade active:

Simple trading set-up identified on the 15-minutes timeframe

Trade active:

Markets remain cautious ahead of FOMC minutes (tomorrow) hence the need to be risk averted with our positions. Best of Luck

Trade active:

Secure the buy position

Comment:

REMINDER
Please note that a breakdown of the 134.700 level and trend line has a tendency of negating bullish momentum in this current market structure.

Trade active:

Selling pressure resumes below the 135.000 level and there is a high chance of breaking both the trendline and 134.700 hence secure the current buy positions.

Good morning

Trade active:

Trade active:

Just as discussed in our live session today (see video on my channel), the bearish trend line will be used as a guide for the current sell position. Secure the sell position now.

Trade active:

Buy position triggered at the breakout of the bearish trendline as we look forward to more opportunities at the breakout of the 135 level

Trade active:

Price action is still caught within a range. Secure all buy positions as we are yet to witness significant traction following the Federal Open Market Committee (FOMC) Meeting Minutes yesterday. We shall discuss this during the live session this morning

Good morning

Trade active:

Buying pressure continues as we anticipate the GDP publication, ensure the buy position is secured.

Trade active:

Despite a lower-than-expected data of 2.7% (variance of -1/71), the immediate reaction incited a bullish momentum breaking out of the 135.000 level to trigger our buy-stop order. Secure all buy positions as we continue to monitor price action

Trade closed manually:

The resumption of selling pressure takes out the buy positions as we return to the status quo. Buying opportunities remain above the 135.000 level and selling opportunities at the breakdown/retest of the 134.700 level as analyzed during the live session today (see the replay of the live session on my channel for reference purposes)

Trade active:

Trading continues within a range. orders placed accordingly

Good morning

Trade active:

Buy position triggered; secure position. Watch the replay of our live session this morning on this instrument on my video channel for detail on how to manage this trade

Trade active:

Trade active:

Just as discussed during our live session today; secure all buy positions

Trade active:

Secure all buy positions as the third position was triggered at the breakout of the 135.720

Trade active:

We have 3 positions running with over 400pips running in profit. Time to secure all positions as we continue to monitor price action