This is a follow-up video to last week's analysis on the USDJPY which scooped over 850 pips in profit to start the year on a profitable note (see link below for reference purposes). The US Dollar started the year on a positive note as it climbed up to test the 135.000 level before selling pressure resumed following the NFP release hereby relinquishing some of its gains to close the week at the 132.000 level. In this video, we looked at the current structure from a technical standpoint and identified the 132.000 level as a platform to look out for trading opportunities 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.
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The week started on a bearish note to break down the bullish trendline and 132.000 level but witness a snap back into where the price started the week at 132.250 - our resistance level for the week. At this juncture, a level of patience is required as we will have to wait for either a breakout or breakdown of the flat channel (132.250/131.350 range) for the signal of where price action is heading for the week.Good morning
Trade active
Secure the current buy position as price action breakout of the 132.250 level... You might want to watch the replay of our live session this morning on my youtub channel for insights on how to manage this tradeTrade closed manually
Price action takes out the buy position at break-even as the price drops below the 132.250 level. So, the price is back within the channel we identified this morning. We shall remain patient here for signals in the form of either a breakout or breakdown of the channel. Update coming up soon.Trade active
Still indifferent as I still look out for a signal in the form of either a breakout or breakdown of the channel (132.20/131.150)Good morning
Trade active
Buy pressure appears to have resumed in anticipation of the Fed's Chair Powell's speech in an hour, you might want to watch the replay of our live session this morning on my youtub channel for insights on how to manage this trade. Trade active
Bullish bias still valid after a couple of breakout of the channel at the 132.250 level.Good morning
Trade active
Trade active
Just as discussed during our live session this morning, price action breakout of 132.580 to trigger the second position.You might want to watch the replay of our live session this morning on my youtub channel for insights on how to manage this trade if you missed it.
Note
Secure all buy position at this pointTrade active
there is a high chance that the USDJPY will drop any minute hereby breaking down the trendline at 132.580 level to incite a sell-off as buyers are finding it difficult to gain momentum through out the day.Trade active
Sell position triggered at the breakdown/retest of the trendline and 132.580.Secure position
Trade closed: target reached
TP target hit with 100 pips profit. With buying pressure resuming at the 131.500 level ahead of the highly-anticipated Consumer Price Index (CPI) data from the US later in the day; we remain patient to monitor price action for trading set-upGood morning
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15-minute Time frame outlook:While we anticipate the Consumer Price Index later in the day; A simple trading set-up identified as buying pressure continues above the 131.500 level in the last 9 hours.
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Secure the sell positions as we anticipate another entry at a breakdown/retes of the 131.00 level - our important key level identified on the daily time frame. You might want to join our live session today for more insights.Trade active
The second position is triggered at the breakdown of our key level at the 131.000 level; Secure all positions as this could turn out to be a false break and the anticipation of the Consumer Price Index publication in an hour has a high chance of bringing surprises - you might want to watch the replay of our live session this morning on my youtub channel for insights on how to manage this trade.Trade closed: target reached
TP target hit on both positions with 300pips in profit total. Waiting for this candle to close before making an informed decision as CPI figures came in just as projected by the consesus. An update coming up soon.Trade active
Outlook on the 15-minute timeframe reveals the resumption of buying pressure around the 129.600 level. At a critical point now as the price could go either way as the 129.600 becomes a yardstick for trading opportunities. A breakdown/retest of this structure has a high chance of continued bearish momentum and continued buy pressure could incite a bullish move.Note
Risking a buy at the breakout/retest of the 129.900 levelTrade active
Secure sell position as we look forward to another opportunity to add more positionTrade active
Price takes out the sell positions at break even as we head into the Asian session, there is likely going to be a spike in price movement, and in this regard, I have identified a structure on the 15-minute timeframe.Trade active
Secure sell position as price action breakdown the 129.150Good morning
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Securing all sell positionsTrade active
As we anticipate the Michigan publication of the Consumer Sentiment Index which is coming up in 2 hours. secure all positions. Don't miss the replay of the live session on my youtub channel for insights on how to manage this tradeTrade active
Trade active
Secure all positions as the fourth position gets triggered at the breakdown 128.100 level
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Trade smart. Trade consciously
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.