USDJPY | Perspective for the new week | follow-up details
Updated
This is a follow-up video to my previous analysis on the USDJPY and on the back of a profitable week on this pair (see link below for reference purposes), we are at equilibrium as the current structure has both a strong bullish and bearish expectation at the same time. The U.S. dollar showed traces of weakness on Friday as fears that the U.S. economy was heading toward recession mounted, ahead of next week’s Federal Reserve meeting. In this regard, I was able to share in this video how we can position ourselves to take advantage of any of these potential opportunities during the coming week(s).
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.
Trade active
The week has started on a bullish note with a fresh new support level at 136.450 level sand resistance at 137.150. So, if you have missed the buying opportunity at the support level let's be patient for trading opportunities in the form of either a breakout/breakdown of either the resistance or support level respectively. Good morning
Trade active
buy pressure resumes above the 136.700Trade active
Time to secure the buy position and looking forward to adding position at the breakout/retest of the 137.150Trade active
Secure the buy positions as the second position is triggered at the breakout of the 137.150.Trade active
Over 180pips in profit (2 positions running) as edges closer to the key level identified in the video at around the 138.000 level; secure all positions.Trade active
Secure all buy positions as sell pressure resumes.Good morning
Trade closed manually
Price takes out the buy position as price tests the key level identified at 135.000 levelTrade active
So, I missed out on the bearish move earlier today. A simple setup is identified in the 15 minutes timeframe.Trade active
Secure buy positionTrade active
Despite the price still remaining above the 135.300 level, traces of sell pressure has been identified as price action is caught within a consolidation phase in anticipation of the macroeconomic events today (see details on the chart).Good morning
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Secure sell position; going live in 10 minutes, see you there!Trade active
Just as discussed during the live session this morning - the appearance of sell pressure below the structure welcomes additional positions ( see video on youtub for details to manage trade). Secure positions nowTrade active
Fed Interest rate decision and FOMC coming up within the next 30 minutes and the price has taken out the sell position with a small profit. And from the look of things, buyers might likely take over as sellers are unable to break below the 134.700 level in the last 12 hours but with that being said we want to keep our options open. So, I have new structures to use as a yardstick for trading opportunities as we head into the macroeconomic hour.Note
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Secure position nowTrade active
UPDATETrade active
Taken out at break even.Waiting to see how price relates to the 135 and 134.700 level
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Anticipate re-entryTrade active
Secure the buy position as we look out for opportunities to add position at the sight of buy pressure around the 135.750 area on the lower timeframe.Good morning
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Secure position as the second position is triggered at the 135.750 areaTrade active
Just as discussed during our live session today; secure all positions as the price breaks out of the 146.450Trade active
Secure the buy positions as selling pressure resumesNote
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The third position got triggered at the breakout of 136.800 after taking out the sell position; secure position as price edges close to TP target. If the price gets to the 138.000 level, we shall be patient to see how the participants in this market relate to that structure to either add more position or plan to sell the US Dollar... Update coming up soon.Trade closed: target reached
After missing out on the bearish move on Tuesday we finally scooped in over 600pips profit with 3 positions in 24 hours. Congratulations to those who were part of this journey!Note
So let's wait and see how the price will react to the 138.000 level for our next line of action... Update coming up soon.Trade active
Since hitting the TOP target yesterday, we have witnessed selling pressure under the 138.000 level. In the last hours, price action appears to be caught with the flat channel of 137.150 and 137.400 to emphasize some indecision at this zone. So, we want to be patient for a signal to incite a trend continuation. However, if the price breaks down this channel, we might be getting ready to join a potential plunge pin price.Good morning.
Trade active
Secure sell position as we look forward to adding more positions at a possible breakdown/retest of the 136.800Trade closed manually
Stopped out at break even. So, we anticipate either a re-entry at the breakdown of 137.150 or a breakout/retest of the 137.400 level for buy opportunities.Trade active
buy pressure resumes, looking forward to a breakout/retest of the 137.400 for buying opportunities.Trade active
Re-entry triggered, secure positionTrade active
PRice action is back to where it started this week - 136.450 level. All position closedCongratulations to everyone who was part of this profitable journey this week... well done.
Happy weekend to you all!
Trade smart. Trade consciously
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