USDJPY | Perspective for the new week

Despite its continued rampage in the currency markets, reaching quarter-century highs against the Yen, I am of the opinion that we might be witnessing a temporary retracement in the coming week in anticipation of a trend continuation in the nearest future. This video explains how I intend to take advantage of this opportunity.

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İşlem aktif:

As I mentioned in the video, I had an opening position over the weekend hence in 48 pips running in profit. Let's see if we are going to witness a retest of the neckline with the hope of a reversal pattern within this area to join a potential decline.

Good morning

Yorum:

and a breakdown/retest of the trendline should signal a bearish momentum

İşlem aktif:

We are still very patient as we anticipate two scenarios to occur before we are triggered for a trend continuation.

İşlem kapandı: hedefe ulaştı:

My first position hits TP as a bearish signal is confirmed in the form of a breakdown/retest of the bullish trendline

Good morning

İşlem aktif:

Close to take profit target... I am actually out at this point

İşlem aktif:

After taking 80pips in our recent trade; a breakdown/retest of 138 level could welcome another bearish momentum, stay tuned in!

Good night

Yorum:

The most important structure any where now is a reversal pattern to give us a signal

Yorum:

İşlem aktif:

Price action continues to respect the supply zone at 138.350 area

Good morning

Yorum:

All selling set-up is negated at this point.

Stay tuned in for updates.

Good morning

İşlem aktif:

With the appearance of a strong reversal pattern in the form of an inverse head and shoulder pattern on the lower time frame; our perspective will be shifting to identifying buying opportunities at the breakout/retest of the neckline at the 138.400 zone.

It appears the neckline has been broken hence I want to see a retest of the structure to join the potential rally.

Yorum:

Video on a follow-up details here:

01:55