LIVE MARKET ANALYSIS & TRADE IDEAS: USDJPY, GBPUSD, GBPAUD & CJ

Hello Traders,

Starting off early today with a big shout out to TradingView for their continuous improvements to the platform and the valuable tools they provide to the trading community. Well done!

Here’s my analysis for today:

USDJPY H4
The USDJPY has formed a Momentum Low, signalling a potential trend reset. The underlying trend remains bullish on this timeframe.
Expectation: Increased buying activity is anticipated from the current price level.

GBPAUD H4
The GBPAUD is trading within a 915-pip range. Inside this range, price fluctuations create highs and lows. Applying the range trading principle—buy low, sell high—recent price action shows a bullish wave structure completed on the smaller timeframe following a rally from the Momentum Low.

Current Observation: A trend reset is occurring on the smaller timeframe, breaking below 1.9508.
Trading Approach: Look for a failure to make a Lower Low (LL) on the 5-minute chart and seek opportunities to trade to the upside.

GBPUSD H4
The GBPUSD remains in a downtrend on the H4 timeframe. However, a significant reset has occurred, forming Structure 4 at 1.2714.
Ideal Trade: The preferred strategy is to sell GBPUSD. However, based on wave structure analysis on the lower timeframe, the price is not yet primed for a bearish move.

CADJPY H4
The CADJPY exhibits similar behaviour to the USDJPY, with a recent dip below the previous Momentum Low. Yesterday, a bullish trend-changing pattern emerged.
Trading Opportunity: Look for buying setups above 107.46 based on the current price action.

Wishing you successful trades and a blessed weekend!