USDJPY | Perspective for the new week | follow-up details
Follwing the Bank of Japan’s policy meeting on Friday, the US Dollar moved a significant 1.74% against the Japanese Yen to settle above the 135.000 for the first time in six weeks. The risk-averse market atmosphere helped the Greenback find demand as a safe haven while hawkish Federal Reserve (Fed) bets provide an additional boost to the currency. The coming week is laced with a handful of high impact macroeconomic event hence the need to consider different factors before making an informed decision. In this video, we dissected the current market structure form a technical stanpoint to figure out how to position ourselves ahead of the new week.
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.
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.
Comment:
Fall out from our live session this morning
Trade active:
Secure buy position
Trade active:
UPDATE
Trade active:
Ensure positionis secured as we look out for more buying opportunities. Please note that the trendline still remains our yardstick to guide trading activities.
Good morning
Good morning
Trade active:
Fall out from our live session this morning
Trade active:
UPDATE
Trade active:
Secure the sell position
Trade active:
Three sell positions running in profit as price action gradually approaches the TP target zone (135.50/134.50) that we identified during our live session yesterday. Secure all positions and remain patient for our next line of action.
Good morning
Good morning
Trade active:
The fallout from our morning live session; secure all sell positions as we have a total of 370 pips running in profit (3 positions)
Trade closed: target reached:
Approximately 500 pips from 3 positions. Price action is within the potential demand zone identified at the beginning of the week. So, we are watching how price action reacts to the 135.000 level as buying pressure is observed in the last couple of hours. A reversal pattern on a lower timeframe is what to look for. Update coming up soon and remember that the Fed Reserve announcement is coming up in 20 minutes, secure all positions if still in the sell position
Trade active:
outlook on the 15-minute timeframe
Trade active:
Buying pressure is now been observed within the demand zone identified at the beginning of the week as sellers are finding it difficult to have a successful breakdown of the 135.000 level. Confirmation of breakout necessary
Trade active:
Secure sell position
Good morning
Good morning
Comment:
Fall out from our live session this morning
Trade closed manually:
Bearish momentum didnt last long
Comment:
After studying the character of price movement this morning, I have readjusted the key levels on this chart to capture the lowest point for the week and there is a tendency for buying pressure building up as price action appear to be finding higher low after testing 134.700 with a sharp rejection. We shall wait for the validity of a reversal pattern for confirmation of buying opportunities.
Good morning
Good morning
Trade active:
NFP data came in beyond expectation with 253K, immediate reaction is bullish hence triggering a buy position. Secure position
Trade active:
Ensure buy position is secured
Trade smart. Trade consciously
Good morning