Hello traders, this is a complete multiple timeframe analysis of this pair. We see could find significant trading opportunities as per analysis upon price action confirmation we may take this trade. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis.
USDJPY, do we have a new breakout underway?
After Friday’s surprise jobs report, the USD continued its revival. Combined with a weaker JPY, this led to a 2.07% surge to close out the week, and Friday’s bar also formed a breakout bar breaking the medium-term trend we have seen since October 2022. There’s other price action incorporated into this that we have...
USD/JPY bounced off the one-week top yesterday and stayed firmer around its intraday high of late. This week, we've seen another missile test from North Korea, which may lead to further sanctions being put in place by the US.
We also saw Fed Chair Powell testify at a hearing about economics and potential new measures to fight Omicron (a related virus). All this...
This is only a trading capability - no recommendation !!!
Next week i`ll confirm or change my opinion about this SetUp :)
Buying/Selling or even only watching is always your own responsibility ...
Best regards
Aaron
With the longer term double top and recent support failure, this pair should keep grinding lower. However, with NFP looming, it's more likely to grind sideways until the release.
That said; you can catch a few pips here and there by riding the consolidation channel sideways. Selling at the top is my preferred method for this pair right now, but you can also try...
