USD/JPY OCT NFP WEEK

1 Eki 2017

Last week USD/JPY continued its uptrend with some strong momentum. Price has made its way all the way up to major resistance zones. After some slight rejections we could see a retest and then some consolidation between a support zone. It doesn't seem likely for a breakout just yet as we have been trending strongly and need some time for accumulation of orders before further price movements. We could see a directional breakout due to the many fundamental events on the calendar for this week including NFP Friday Oct 6. Regardless of these fundamental events our zones are plotted and most importantly we have a plan.