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

Despite negative GDP data last week (negative variance of 1.71), the dollar closed its fourth consecutive week in positive territory, trading 1.80% higher to culminate at the 136.500 zone. The economic data released so far this year has painted a stronger picture of the U.S. economy. It is also worth noting that the incoming BoJ governor Kazuo Ueda indicated that the central bank will largely maintain its ultra-accommodative policy in the near term hereby indicating a weak economy and considering the significant breakout of the 135.000 zone (the first time this year); the Greenback may continue to remain in demand. This video illustrates a detailed technical perspective of what to look for in the coming week as trading opportunities is strongly leaning towards bullish expectation from a long-term perspective.

00:50 Reference to last week's daily commentaries and results
03:49 USDJPY analysis on Daily Timeframe
06:05 Macroeconomic event for the week
08:30 USDJPY analysis on the 4H Timeframe
10:30 Conclusion on next week's projections

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Past performance is not necessarily indicative of future results.

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So, since the beginning of the week; a consolidation phase is identified above the 136.00 level. We are going to be patient and position our selves for trading opportunities at the breakout or breakdown of this structure.

Good morning

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So, in the last 21 hours, price action continue to trade within a range despite the macroeconomic data earlier today. It is evident that selling pressure is observed as price action finds lower highs within the channel hence the tendency of a selling momentum increases as we head into the Asian session. The chart below indicates where trading opportunities are expected (breakout or breakdown of the channel).

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Structures on the 15-minute timeframe reveal higher lows which is a technical sign of bullish traction.

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Buy position triggered; secure position

Good morning

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After breaking out of the 136.550 level, price action is caught within a range (136.750 and 136.620); secure all positions as we look forward to more opportunities. You might want to watch the replay of our live session this morning if you missed it as we discussed the trade management at length.

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Secure all buy positions as selling pressure resumes and as agreed during our live session this morning we are not selling unless a breakdown/retest of the 136.550 happens. Update coming soon

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Sell position triggered at the breakdown of the 136.550 level; secure sell position as we remain patient to see how price action reacts to the 136.000 zone. Update coming up soon

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OUTLOOK on 15-minute timeframe

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buy position triggered at the breakout of the 136.150 level as projected; Secure buy position

Good morning

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Secure sell positions

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Secure the sell positions as we enjoy the ride!

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3 positions running in profit; secure all positions. watch the replay of our live session this morning for trade management ideas.

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Secure all sell positions as buying pressure appears at a critical structure at 135.250.

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Sell order placed below the 136.00 level for a potential trend continuation. Please note that a breakout/retest of the trendline has a strong tendency of negating bearish momentum.

Comment:

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Buying pressure resumes, taking out the sell positions. In as much as we continue to forward to selling opportunities below the 136.000 level, a breakout retest of the 136.150 and bearish trendline will welcome buying opportunities.

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The breakout of the 136.150 level triggers the buy-stop order and there are two positions currently running gin profit. Secure all positions as we look forward to more trading opportunities.

Good morning

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buying pressure continues

Trade closed manually:

Selling pressure resumes and buy positions taken out as price action breaks down the bullish trendline

Good morning

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Secure all sell positions as the trendline remains our yardstick for trading activities today. If you missed our live session today, the video replay has been uploaded, check it out.

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More positions are triggered as selling pressure continues and runs within the ambit of the bearish trendline. Secure all sell positions