Previous Week Update:

  • Before:

USDJPY Update.PNG

  • After:

USDJPY Update 1.PNG

Followed path B and decided to create a range. Now we wait for a breakout and get on in the retest. If you read my PDF, you know what I am talking about.

Upcoming USD News:

  • Tuesday
    • CB Consumer Confidence
      • Previous: 121.1
      • Forecast: 120.3
  • Wednesday
    • ADP Non-Farm Employment Change
      • Previous: 178K
      • Forecast: 186K
    • Prelim GDP q/q
      • Previous: 2.6%
      • Forecast: 2.7%
    • Crude Oil Inventories
      • Previous: -3.3M
  • Thursday
    • Unemployment Claims
      • Previous: 234K
      • Forecast: 237K
  • Friday
    • Average Hourly Earnings m/m
      • Previous: 0.3%
      • Forecast: 0.2%
    • Non-Farm Employment Change
      • Previous: 209K
      • Forecast: 180K
    • Unemployment Rate
      • Previous: 4.3%
      • Forecast: 4.3%
    • ISM Manufacturing PMI
      • Previous: 56.3
      • Forecast 56.5

Monthly: Monthly closed with a strong bearish candle, we created a top wick and continued lower. We are reaching a critical support area as we have filled the first wick on the left. If we break the support we will continue lower, and look to touch the bottom trendline support.

USDJPY Monthly.PNG

Weekly: Weekly is respecting the broken trendline and the double top neckline. It created a range between the broken trendline and the neckline. Now we wait for a break out.

USDJPY Weekly.PNG

Daily: Highlighted in Blue is our ranging box, and we just must wait for a break out or a daily close in whichever direction outside the box. Then on the H4 we wait for entries. If you read my PDF, you will understand that the trendline can be also seen as the Double Top neckline, so we broke it, retested and ranging. Usually means a break side to the downside.

USDJPY Daily.PNG

H4: Another confirmation for the downside is shown with a bearish flag being formed. The highlighted area is where I would like to see a test and if I see exhaustion for shorts to be taken. When it breaks outside the channel, that will be the direction we will be going towards.

USDJPY H4.PNG

Overall USDJPY Analysis

Last Week’s Analysis: USDJPY is at a critical zone, as there is not much news coming out, I believe this week will be either a strong rejection from the zone or we will find a ranging box (most likely). Then with NFP the following week we should break or bounce from the critical area that we are at. So, tread carefully, we will be ranging most likely, so when you take entries, exit on the next zone, or be sure to move SL to profits.

A nice range is see is between:

108.900 <–> 109.500 or 110.00


This week is NFP, we are still the zone as I mentioned last week. We will have a breakout and this will start our trending market. So, wait for the breakout, enter on retest and be careful for NFP, then the week after we should start trending!!!

Predicted movement:

USDJPY Prediction

Look for the zones I have highlighted, I will be waiting for a breakout this week. My analysis usually never goes as planned during NFP, and especially this week, I see a strong push 1 way, that will finally start our trending market!

IN ADDITION:

To all who have read my PDF, if there is any feedback or something you want me to cover in my PDF 2.0, please e-mail and let me know <3.

Whoever knows how to add a booking system to WordPress please do let me know. I will be looking to take 1 on 1 sessions for 30 minutes to 1 hour to discuss any questions you guys might have about swinging or just general FX.

Have a great week to you all and THANK YOU for all the support.