Marenno
Short

USDJPY Weekly review, trading plan for the begining of the week

FX:USDJPY   U.S. Dollar/Japanese Yen
Price direction on a Quarter chart is down, as new lower low and lower high appeared (Price direction is not the same as a trend direction)
Last quarter's close is above 5MA what gives a bit more power to bullish signals
We have a bearish chart pattern (Quarter)
Divergence on a Quarter chart with a current oscillator confirms the reversal pattern, what gives support to momentum traders, and can possibly give a momentum to the price movement.
Price is currently at 76.4% Fibonacci retracement area
in a relation to previous swing Down
Will look for a bearish long-term entry setup (based on Quarter chart, using lower leverage and wider stops, this type of trade will be left open for up to a quarter) at around 120.500

Currently none of the major chart patterns appears on weekly chart



Will look for a bearish short term entry setup (based on weekly chart, this type of trade will be left open for a few days) at around 120.75

On a 1D chart we have a bearish chart pattern

Price is currently at 50% Fibonacci retracement area (Filtered to 1D timeframe)
in a relation to previous swing Down
Will look for a bearish short term entry setup (based on 1D chart, trade will be left for Hours, but position will be closed in parts and using a trailing technique, will try leave it open for a maximum period possible) at around 120.75


In conclusion, all the levels I mentioned are based on a current market activity, but everything can be changed within seconds, however based on a review that is done, I will be looking for a selling opportunities coming week.

"P.S.: Sometimes you can see opposite opinions in my analysis. Please don’t rush to complain. It is happening due to a different timeframe analysis. 
As an example - If I have a buy signal on a quarter chart ( 3m             ), it doesn’t mean I have no selling opportunities on a Daily chart or on a 1H chart."
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