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

Though within a range, the US dollar was able to incite bullish traction last week as the 131.000 level remains a zone for buying power and a strength for the Dollar is likely following the Federal Reserve Governor Christopher Waller's comment on more monetary tightening despite evidence of a steady drop in inflation figures. Higher interest rates tend to benefit the dollar and this could incite a bullish trend in the coming week(s) which could lead to the break of the 133.800 barrier. From a technical standpoint, this video illustrates what we are going to be looking at in the coming week to either buy or sell the USDJPY.

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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 choppy situation is observed above the key level identified in the video at 133.800 level. Waiting for a signal

Good morning

Trade active:

Buy position triggered

Trade active:

Time to secure buy position

Trade active:

Selling pressure resumes as buyers find it difficult to break the 134.550 barrier.

Good morning

Trade active:

Secure sell position

Trade active:

Secure sell position

Trade active:

Secure sell position as buying pressure resumes. Looking forward to buying the breakout/retest of the 134.200 if price action stops finding a lower low.

Trade active:

Secure all buy positions

Trade active:

After being taken out of the buy positions, just as discussed during our live session this morning - we are beginning to see some bullish traction around the 134.550 zone. It is most appropriate to look out for buying opportunities above this level to join a potential trend continuation. Update coming up soon

Trade active:

Secure buy position

Trade closed manually:

Sell pressure continues hereby taking out the buy position.

Good morning

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Fall out from our live session today

Trade active:

Just as discussed during our live session today; selling pressure continues where a breakdown/retest of the trendline and demand zone will be welcoming selling opportunities.

Trade active:

Secure sell position

Trade active:

Secure all sell positions as buying pressure is observed at the neckline of the reversal pattern identified on the daily time frame at the 133.800 zone.

Good morning

Trade active:

Following our last discourse on the importance of the key level at the 133.800 level during the live session today, a simple set-up is identified in the 15-minute timeframe.

Comment:

UPDATE

Trade active:

Secure all buy positions