USDJPY | Perspective for the new week | follow-up details
The Greenback fell modestly from an all-time high of 140.800 despite a positive NFP result on Friday to close the day with a shooting star candle. I am of the opinion that we might be anticipating the beginning of a retracement phase of the previous leg that broke out of the neckline structure identified on the daily timeframe which is likely to reflect the quick profit-taking for the bulls. In this video, I shared my technical opinion and how I plan to trade the USDJPY in the coming week.
Risk Disclaimer:
Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility.
You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment.
I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith.
Past performance is not necessarily indicative of future results.
Risk Disclaimer:
Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility.
You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment.
I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith.
Past performance is not necessarily indicative of future results.
Trade active:
Just like the USDCHF, the direction participants in this market are tending toward is still looking bullish at this point. Now, will the price respect or break down the bullish trendline identified in the 1H time frame?
Good morning
Good morning
Trade active:
Time to get prepared for selling opportunity as I anticipate a breakdown/retest of the trendline.
Good morning
Good morning
Trade active:
Reversal pattern identified on the lower time frame. Hence I am looking forward to taking a counter-trend trading opportunity with the hopes of testing the bullish trendline identified on the daily time frame (watch the video for reference purposes)
Comment:
Trade active:
Running as expected; stop-loss moved to break even
Good morning
Good morning
Trade active:
below 144.000 level is good for selling opportunity
Trade active:
Over 400pips in profit (double entry). Locking in my position as the price is right on the bullish trendline identified on the 1 H time frame. So, I want to see how price is going to relate to this level. Is the price going to break down or reject this line?
Good morning
Good morning
Trade smart. Trade consciously
Good morning