I think we would see some choppy trading for the upmove. Like most JPY pairs we are at an area of resistance, so waiting for a clear move to decide my bias.
This is my forecast for the week ahead. It will be updated everyday during asian session for any changes. Do scroll down to look at the comments for updates.
Just because price has reached my area of interest does not mean I will open a position unless I specifically mentioned I would open a position there. I would normally watch the price action before deciding.
Nothing is 100% in trading, it is a game of probabilities. Be nimble when trading, never have a strong bias. I can turn from bullish to bearish in a day if price action tells me so.
This is my forecast for the week ahead. It will be updated everyday during asian session for any changes. Do scroll down to look at the comments for updates.
Just because price has reached my area of interest does not mean I will open a position unless I specifically mentioned I would open a position there. I would normally watch the price action before deciding.
Nothing is 100% in trading, it is a game of probabilities. Be nimble when trading, never have a strong bias. I can turn from bullish to bearish in a day if price action tells me so.
Comment:
Standing aside until that support is broken.
Comment:
Wednesday
Still waiting for a break of support to start shorting.
Still waiting for a break of support to start shorting.
Comment:
Thursday
Price have not turned bearish yet but I would not buy until that 86.60 resistance is broken. We could side alot of sideways ranging from now.
Price have not turned bearish yet but I would not buy until that 86.60 resistance is broken. We could side alot of sideways ranging from now.
Comment:
Friday
While AUDJPY is the only JPY pair that still looks bullish, but for me we are in a big zone of resistance. To me it is a no trade as price will whipsaw alot. Waiting for the top resistance to be cleared before I start looking for longs.
While AUDJPY is the only JPY pair that still looks bullish, but for me we are in a big zone of resistance. To me it is a no trade as price will whipsaw alot. Waiting for the top resistance to be cleared before I start looking for longs.
