USDJPY | Perspective for the new week | follow-up details

Despite missing out on the initial bearish move on Tuesday, we were still able to close the week on a profitable note with about 700 pips in total (see link below for reference purposes). The outcome from last week indicates that the U.S. dollar continues to plunge hereby handing back some of the previous session’s gains as participants attempt to gauge the Federal Reserve’s likely tightening path in the new year. And with BoJ's governor's speech coming up early in the new week, there might be fresh hopes for the US Dollar. In this video, we identified the 131.000 level as a critical point that has a memory for buying power. So, in the new week, we shall be using this zone as a yardstick for trading opportunities.

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Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility.
You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment.
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Past performance is not necessarily indicative of future results.

Trade active:

A simple flat channel has been identified between 133.150 and 132.650 as selling pressure continues below the key level identified in the video at the 133.000 level. We shall be looking out for either a breakout or breakdown of the channel to join the potential move.

Good morning

Trade active:

We are securing the buy position as price action breakout/retest the 133.150

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15 minute time frame update

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UPDATE

Trade active:

Securing all buy positions as a new structure evolves on the 15 minutes timeframe where we shall be looking out for buy opportunities above the 133.850 level at the breakout/retest of the bearish trendline. Remember that we are within the sell window identified during our live session yesterday morning, so selling opportunities could come knocking at the breakdown/retest of the 133.850 level. Update coming up soon.

Good morning

Trade active:

I am taking my family out and shall be back here in 4 hours... Please watch the replay of our live session today on my youtub channel for insights on how to manage this trade.

Trade active:

So just as discussed during our live session this morning - price action respects the 133.600. We want to be securing all buy positions as we look forward to another opportunity to add position at the breakout/retest of the 134.300. Please note that if selling pressure appears below the 134.300 level on our lower time frame, we might be anticipating bearish momentum. I shall keep you posted.

Trade active:

The fourth position was triggered as price action breaks the 134.300 level. Secure all buy positions

Trade closed manually:

Price action takes out all buy positions with approximately 200 pips profit as sell pressure resumes. Securing all sell positions as we look forward to a breakdown/retest of the bullish trendline to add positions. Please note that buy pressure above the trendline still has a tendency of buy momentum... Update coming up soon.

Good morning

Trade active:

Secure sell position as buy pressure appears above the 133.600 level. And this pressure could lead to a breakout/retest of the 133.850; so we shall anticipate buying opportunities in this regard.

Good morning

Trade active:

As discussed during our live session this morning; The second sell position triggered at the breakdown of 133.600. Secure all positions as we remain patient to see how the price reacts to the 133.000 level - the support zone for this week.

Trade active:

Secure all sell positions as buy pressure resumes at 133.000 (the zone where buy momentum started this week). If a reversal is identified on the lower time, I shall get ready to join a bullish momentum but if a breakdown/retest of the 133.000 happens, it will be an opportunity to add one more sell position.

Trade active:

With multiple entries running, we have close to 400pips running in profit as price action continues to break all the identified levels to emphasize the strength of the sellers. Securing all sell positions as we look forward to adding more positions.

Good morning