The BoJ kept rates unchanged which diverged from other central banks but at the same time intervening in the USD forex market which sent the USDJPY pair sharply lower during the latter part of last week's trading session. This illustrates how I intend to sell the USDJPY as long as the price does not break above the supply zone at 145 area.
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Price remains within the sell window since the beginning of the week; I will be looking for reversal patterns on the lower timeframe to join the potential decline.
Good morning
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UPDATE
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Price still remains within the sell window and I have made some adjustments to the trading set-up as I look forward to selling at the breakdown/retest of the 144.200 and if the buyers are able to break out of the supply zone at the 145 area to the upside, this could probably be a bullish signal as a retest of structure will confirm bullish momentum.
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BoJ Monetary Policy Meeting Minutes coming up in 3 hours. How is this event going to affect the Japanese Yen?
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Price remains within the sell window in the last 3 days with potential selling opportunity still valid. As long as the price does not breakout of the supply zone identified in the higher timeframe, I remain bearish.
Good morning
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UPDATE Entry adjusted to below the 144.600 zone as price remains within the selling window since the beginning of the week. Besides, Powell's speech is coming up in 2.5 hours... Getting prepared.
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In a good position here; moving stop-loss
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Following the bearish signal yesterday, the price is back within the sell window which was also my entry zone. I am still looking forward to selling below the 144.600 area.
Good morning
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Looking good at the moment
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Price action continues to move as expected. A breakdown/retest of the 144.200 will welcome an opportunity to add positions to my existing trade.
Good morning
Trade closed manually
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Break even as sellers were unable to gain traction this week.
Right now can see fight betweet Bank of Japan vs American banks, usd jpy is pure man made decision making movement, during asian session we can expect Japan pusing down and during NY session american will push up