Previous Week Update:

  • Before:

USDJPY Update.PNG

  • After:

USDJPY Update 1.PNG

Follow path B in a way, not exactly but had the same idea. I did not trade UJ this week and Gold look prettier and I trade what has prettier market structure.


Upcoming USD + JPY News:

  • Tuesday
    • JPY – BOJ Policy Rate
      • Previous: -0.1%
      • Forecast: -0.1%
    • CB Consumer Confidence
      • Previous: 119.8
      • Forecast: 121.1
    • Wednesday
      • ADP Non-Farm Employment Change
        • Previous: 135K
        • Forecast: 191K
      • ISM Manufacturing PMI
        • Previous: 60.8
        • Forecast: 59.4
      • Crude Oil Inventories
        • Previous: 0.9M
      • Thursday
        • FOMC Statement
        • Federal Fund Rates
          • Previous: 1.25%
          • Forecast: 1.25%
        • Unemployment Claims:
          • Previous: 233K
          • Forecast: 235K
        • Friday
          • Average Hourly Earnings m/m
            • Previous: 0.5%
            • Forecast: 0.2%
          • Non-Farm Employment Change
            • Previous: -33K
            • Forecast: 311K
          • Unemployment Rate
            • Previous: 4.2%
            • Forecast: 4.2%
          • ISM Non-Manufacturing PMI
            • Previous: 59.8
            • Forecast: 58.3

Monthly: May close strong bullish on Tuesday and we filled wicks on the left. Keep in mind we are also at a monthly resistance.

USDJPY Monthly.PNG

Weekly: We have an exhausted weekly candle, which could signal a triple top with the bearish pin bar. However, nothing is certain with all the upcoming news coming this week.

USDJPY Weekly.PNG

Daily: As you see we are clearly ranging and rejecting the weekly + monthly resistance We have created a ranging box, we will break out. Just a matter of patience.

USDJPY Daily.PNG

H4: We are currently in a bullish channel; however, I believe it is entirely possible to drop lower of the channel are create a higher low on the daily timeframe. This week, will be very volatile, so manage your trades accordingly.

USDJPY H4.PNG


Overall USDJPY Analysis

USD is very bullish with all the news we had last week. But keep in mind, the market needs to create structure, it can’t keep going in our direction in a straight line. I am expecting a higher low on the higher time frames.

This week my trading volume will be dramatically reduced as every time you enter a trade you are risking your capital. I am willing to be patient and just wait till the week after when market structure and direction forms!


Predicted movement:

USDJPY Prediction

I am sure most of my paths won’t be followed this week, we have JPY + USD interest rates and NFP. Going to be one hell of a volatile week, plus I see price ranging. I know that my trading plan does not do well during ranging markets, so I am purely going to wait it out and see what market structure tells me and go with the flow.


In Addition:

Follow my Telegram, just search: cyimfx

My internet has been down today after I got back from the beach… Really sorry that I couldn’t do the webinar… If the internet is back up next week, 100% I will have it up!

I also opened a mentorship. Simply go to my website and you will see a tab for “Mentorship”. Click that and you will find the details all there.