FX:USDJPY   U.S. Dollar / Japanese Yen
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----> Top Down Analysis Price Action Weekly>Daily >4hr>1hr
----> Support & Resistance Structure & Key Levels
----> HH, HL, LH, LL, FIBS
----> Price Action & Candlestick Formation(s)
----> Daily/4HR Targets & Stops - Swing Lows & Swing Highs
----> Break & Close of Major S/R Structure - Bullish or Bearish
----> Candle - Structure - Fib - Bias - Overall

Weekly - an uptrend bias still continues. Price as broke and closed above the weekly resistance. We see price action as also created a higher high supporting further more bullish movements once pullbacks have completed.



Daily - similar to the weekly set-up we have a bullish bias with price creating a higher high and at the weekly resistance. Fib extension targets match the daily resistance in the 113.3 zone. A possible pullback on the lower time-frames before buying is in the works. However we must note that due to fundamental news releases prices could be volatile around these areas.




4hr- price touched the 4hr resistance set-up above the weekly resistance. This also created a higher - high and we are clearly seeing pullbacks to potentially form - shorts falling to key areas of 111.53/111.18 before long entries are submitted. A break below and close below of the latter 4hr support zone could change the trend to a bearish bias.



1hr - price similar to the other time frames with regards to the overall uptrend bias. Some bearish pullbacks to occur to the 4hr support zones as above.



Sell
Entry: 111.9
Targets: 111.5/111.1
SL: 112.4

Buy
Entry: 111.0-111.5
Targets: 112.5/113.5
SL: 110.5
Comment:

Price remained in consolidation for the whole trading week - without meeting the anticipated bearish retracement. This could be in preparation for a significant market move in the next few weeks. The bears in the GOLD market may have exhausted their selling power which could make way for bullish long positions.
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