Previous Week Update:

  • Before:

USDJPY Update.PNG

  • After:

USDJPY Update 1.PNG

None of the paths was followed, however, as I mentioned we did range during NFP week and the range 114.200 – 113.200 was respected. Now we just need a breakout in either price level to know where price wants to continue to go.


Upcoming USD + JPY News:

  • Monday
    • JPY – BOJ Gov Kuroda Speaks
  • Wednesday
    • Fed Chair Yellen Speaks
    • Crude Oil Inventories
      • Previous: -2.4M
  • Thursday
    • Unemployment Claims
      • Previous: 229K
      • Forecast: 231k

Monthly: Monthly closed bullish, but now we are at the triangle resistance. Check lower time frames for more detailed analysis.

USDJPY Monthly.PNG

Weekly: We closed bullish, but to confirm we are going up we need price to close above the price level as it is at a critical area. However, since we had a bearish pin bar the week before and didn’t close bearish, I see strong bullish possibilities.

USDJPY Weekly.PNG

Daily: Daily show no sign of reversal, we are in a bullish trend, and price seems to be consolidating before a possible break up. If we close above, we will see 115.000 – 115.400 as first target.

USDJPY Daily.PNG

H4: Highlighted area shows a range that price will be at before breakout out to the upside or downside. I see more upside because of the correlation with the bullish trendline. However, we break the ranging zone there is a strong chance of testing the lows, and only way we will change to a bearish trend is if we take out 113.200 with momentum.

USDJPY H4.PNG


Overall USDJPY Analysis

Technicals still show no sign of a reversal to me, I still see more upside. However, it is possible to drop because maybe NFP did not hit target. But, Unemployment again decreased which is a very good sign.

Next month will the Fed Rates so keep in mind what Yellen will say this week, she may give some clues on what will happen. They did announce they wanted to hike rates this year, and December is the last chance. So, possibilities of a hike are very high, but we won’t know until it happens. For now, we will watch the King and Queen to see where price wants to go.


Predicted movement:

USDJPY Prediction

All are possible, King and Queen will dictate the path price wants to take, so just keep watching and be patient. Patience will help you get the best RR and give you the highest probability of the trade succeeding.

P.S. King = Market Structure + Queen = Price Action.


In Addition:

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