Previous Week Update:

  • Before:

USDJPY Update

  • After:

USDJPY Update 1.PNG

Price broke my trendlines and kept continuing higher and higher. If you watched price action you would’ve rode this all the way up beautifully. Next week is going to be a very interesting week with USD Fed fund rates and JPY interest rates.


Upcoming USD + JPY News:

  • Tuesday
    • Building Permits
      • Previous: 1.23M
      • Forecast: 1.22M
  • Wednesday
    • Crude Oil Inventories
      • Previous: 5.9M
    • Federal Funds Rate
      • Previous: 1.25%
      • Forecast: 1.25%
  • Thursday
    • Unemployment Claims
      • Previous: 284K
      • Forecast: 300K
    • BOJ Policy Rate – JPY
      • Previous: -0.1%
      • Forecast: -0.1%

Monthly: Monthly closes with a doji, but as expected and mentioned it was filled. We had a bounce off the monthly levels and now we could potentially test the top trendline or previous highs.

USDJPY Monthly.PNG

Weekly: Weekly closed strong bullish engulfing of the previous bearish candle. Bounced off the weekly support and now is looking to potentially test the highs or create a possible lower high.

USDJPY Weekly.PNG

Daily: As you can see price closed above previous lower high for UJ. So we either break the resistance we are currently at or we will create a higher low before going up. Watching closely for that resistance level. We close above we going higher.

USDJPY Daily.PNG

H4: Here you can see a close look at how it broke previous lower high for UJ and broke every trendlines, plus we retested both and a previous resistance. We close above the resistance level you see where price is at currently then we are most likely going to the target I highlighted.

USDJPY H4.PNG


Overall USDJPY Analysis

Overall USDJPY is all over the place, and this week we have Fed Fund Rates and JPY Interest Rates, so my advice this week is tread lightly. Get in and out, use pending orders and when in profit and you want to swing put your SL in profits before the news. Plus watch price action at key S&R.

 


Predicted movement:

USDJPY Prediction

I am not going to say much because of the heavy news we have coming. So just watch market structure and price action and decide for yourselves as that is all you need.

 

In Addition:

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

I will officially start my weekly webinar next weekend on analyzing USDJPY and Gold.

Link will be posted in the groups, on IG and on Telegram.

Link for Telegram is here:

https://t.me/joinchat/AAAAAESIINOwxdVp8WTmQw

Any questions, e-mail me at cabinyim@hotmail.com