USDJPY | Perspective for the new week | follow-up details

Güncellendi

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.

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Past performance is not necessarily indicative of future results.

İşlem aktif

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

İşlem aktif

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.

İşlem aktif

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

İşlem aktif

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.

İşlem aktif

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.

İşlem aktif

MOving stop loss

Not

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

İşlem aktif

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 point

İşlem aktif

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.

İşlem aktif

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

İşlem aktif

Over 180pips in profit; It is appropriate to continue to extend TP to maximize profit.

İşlem aktif

UPDATE

160pips in profit; Missed the retest of structure to add position, let's see if the market will give a second chance.

İşlem aktif

Multiple rejections of the 147.000 level is a positive sign for a bullish momentum

İşlem aktif

Price continue to climb; stop-loss moved to secure position

Good morning

İşlem aktif

UPDATE

Securing position

İşlem aktif

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.

İşlem aktif

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 accordingly

Good afternoon

İşlem aktif

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.

İşlem aktif

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

İşlem aktif

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

İşlem aktif

Another position was added at breakout/retest of 149.250, looking forward to adding another position at the retest of 149.500.

İşlem aktif

UPDATE

İşlem aktif

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

İşlem aktif

Bearish momentum appears to be coming in.... Ensure that stop loss is moved to lock in desired profit

Going in for the live session now, Update coming soon

Not

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...

İşlem aktif

BULLISH CONTINUATION SIGNAL
breakout of 150.000 has happened

İşlem aktif

New position executed and in 40pips in profit; securing position at the entry level

Good morning

İşlem aktif

UPDATE

İşlem aktif

Please move your stop loss to a desired TP target as it appears the Greenback is losing value

İşlem elle kapatılmış

That was HUGE! Thank Goodness stop-loss was moved... Done for the week.

Happy weekend to you

darcsherry

Trade smart. Trade consciously

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USDJPY | Perspective for the new week | follow-up details

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