kevmurray
Long

USDJPY - Week Ahead

FX:USDJPY   U.S. Dollar / Japanese Yen
A few options depending on what the USD JPY does this week. Will be watching close to get back in this for a Long position.
what makes you think this will drop?
this chart is unclear ;state technical reasons just dont put charts with random arrow?
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kevmurray rick.alter.35
I am waiting for confirmation tomorrow. I have plotted my trend lines and S/R so I am prepared for when I get a bullish or bearish confirmation.

My theory is that after Fridays NFP there will be some profit taking which will bring the pair down. If it hits the first support line and we get a bullish confirmation I will go long. If it breaks through, I will wait for it to hit the second Support with bullish confirmation and go long. Scenario three is that it continues to rise and in that case I will buy above 125.878. Hence all the "random arrows".

To be clear, I am a rookie trader and simply working on some ideas. Whats are your thoughts on the pair?
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