USDJPY | Perspective for the new week | follow-up details
Updated
The intervention of the Bank of Japan three weeks ago appears to linger on in this market as the U.S. economy continued to add jobs at a solid rate in September. As the price continues to trade between a specific zone (145 and 144 area) in the last three weeks, we can only wait for a signal to have a trading opportunity on this pair.
Risk Disclaimer:
Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) is high-risk and unsuitable 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.) is high-risk and unsuitable 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
Caught within a channel between 145.300 and 145.650, a signal will suffice in the form of a breakout of this structure hence I will be waiting this out. Besides this, a bullish trendline is identified and has a likelihood of pushing the price to the upside. However, if a breakdown of the trendline happens, then the possibility of selling the USDJPY is incited.Good morning
Trade active
Do we have a bullish signal as price breakouts of the channel at 145.650?A retest of the structure in the lower frame should confirm a potential bullish momentum. From the look of things, anywhere above 145.650 looks like a comfortable area to buy the USDJPY.
Trade active
Buyers continue to struggle above the 145.650 zone. Move stoploss to reduce risk on position... Lets see what happens in the next couple of hours.Good morning
Trade active
The way events are unfolding at this point, we might be witnessing a breakdown of the trendline hereby taking me out of the buy position to incite a bearish momentum as buyers are finding it difficult to hold above the 145.650 level. I am also taking into consideration the fact that the price is still within a very strong supply zone identified on the higher timeframe - see my previous videos on the USDJPY for reference purposes.Trade active
Yet to be taken out of the buy position as the price climbs back above the 145.650 level... I continue to monitor price action.Trade active
MOving stop lossNote
We already have a flat channel as the price has been trading between 145.500 and 145.800 since the beginning of the week. Now, price action trades above the 145.800 level and continues to respect the bullish trendline. Remember, FOMC is coming later on today, I want to see how participants in this market will anticipate this event.Good morning
Trade active
Buying traction finally happens as we now witness a breakout of the supply zone identified in my previous videos. Please note that we do not know if it is a false or confirmed one at this moment as only time will tell. So, its 50 pips in profit; securing the position at this pointTrade active
Over 110pips in profit and I think this bullish move will be massive (considering the extended period of time within the consolidation phase) so it appears to be appropriate to continue to extend TP and move stop loss to secure the position. And if the market presents another buying opportunity at a retest of 146.200 which lines up with the bullish trendline buying opportunity will be considered.Trade active
Multiple rejections of the 147 level in the last 12 hours indicate some selling pressure so stop-loss is moved to secure the current buy position as I continue to monitor price action.Good morning
Trade active
Over 180pips in profit; It is appropriate to continue to extend TP to maximize profit.Trade active
UPDATE160pips in profit; Missed the retest of structure to add position, let's see if the market will give a second chance.
Trade active
Multiple rejections of the 147.000 level is a positive sign for a bullish momentumTrade active
Price continue to climb; stop-loss moved to secure positionGood morning
Trade active
UPDATESecuring position
Trade active
Close to 500pips in profit with 2 positions running. We continue to extend the TP target and move stop-loss accordingly to protect the position.Trade active
Price still within the channel as we look forward to a signal in the form of a breakdown or breakout of structure. Position secure as stop-loss is moved accordinglyGood afternoon
Trade active
Is the breakout of the channel at 148.850 area a true or false one?Let's see if there is going to be a retest of structure or a transition into a trend continuation pattern to send the price soaring.
Trade active
Following the breakout of the channel at 148.850, we have witnessed buying pressure from this area in the form of a retest of the structure.Good morning
Trade active
We continue to extend TP to maximize profit as the price breaks above 149.250 and if there is a retest of this structure (buying pressure) we want to add one more position to this trade.Good morning
Trade active
Another position was added at breakout/retest of 149.250, looking forward to adding another position at the retest of 149.500.Trade active
UPDATE Trade active
Add position at breakout/retest of the 150.000 level. However, if a breakdown of the bullish trend line happens, then we might be witnessing a momentum shift.Good morning
Trade active
Bearish momentum appears to be coming in.... Ensure that stop loss is moved to lock in desired profitGoing in for the live session now, Update coming soon
Note
Now out of this trade after over 1,000pips in profit. So, with the breakdown of this trendline in the last hour, there are three scenarios I am looking forward to and this is illustrated on the chart with the arrows. Update coming soon...Trade active
BULLISH CONTINUATION SIGNALbreakout of 150.000 has happened
Trade active
New position executed and in 40pips in profit; securing position at the entry levelGood morning
Trade active
UPDATETrade active
Please move your stop loss to a desired TP target as it appears the Greenback is losing valueTrade closed manually
That was HUGE! Thank Goodness stop-loss was moved... Done for the week.Happy weekend to you
Trade smart. Trade consciously
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