USDJPY | Perspective for the new week | follow-up details
Updated
The Japanese Yen advanced during the most part of the previous week, capitalizing on sustained weakness in the US Dollar as markets bet on a Fed Reserve's hint on a potential pause in the Federal Reserve’s rate hike cycle making it one of the viable safe-havens. However, the employment expansion in April was 73,000 beyond expectations, moving the jobless rate a notch lower to 3.4% from a previous 3.5% and making it difficult for the Fed to consider stopping raising interest rates. In this regard, the Greenback may likely capitalize on this theory to gain some traction in the coming week(s). From a technical standpoint, this video highlighted the chances both sellers and buyers have from the current market condition(s) in the coming week(s).
Disclaimer:
Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable 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.
Disclaimer:
Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable 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.
Note
We have a breadown of the support line at the 135.850. We hold on to confirm it to either be a true breakdown to join.Good Morning
Trade active
New demand zone identified as sellers find it difficult to penetrate the 135.850/135.750 zone throughout the whole day. If you are in a buy position? Weldone and if you are not in one like me - we anticipate the breakout/retest of the resistance line at 135.300 for buying opportunities.Note
Indecision continues as price action remain in a range between the 135.850 and 135.300. We still wait for signals in the form of either a breakout or breakdown of the channel for trading opportunities.Good MOrning
Trade active
Price action stays above the resistance line at the 135.300 for the first time this week. Let' see how long this is going to last.Good MOrning
Trade active
Still holding on to a bullish bias until the structure shows otherwiseTrade active
Any sell position must be secured at this juncture as a reversal pattern is identified along the bullish trendline we laid emphasis on during our live session yesterday.Good Morning
Trade active
Fall out from the just concluded session; sell pressure resumes as the 134.400 is still struggling to hold the reversal pattern identified earlier. So a breakdown/retest of the 134.400 will incite selling opportunities.Trade active
Sell position taken out. Patience is needed now; breakout/retest of the 135.850 = buying opportunities and breakdown/retest of 134.00 level = selling opportunities.
Trade smart. Trade consciously
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