USDJPY is getting ready to break free from the 120.ish prison, seems like it took a deep breath and could potentialy move rapidly, taking STOPs above 120.78. Lets see how it goes, will have to loose the position quickly if it doesnt show strength right after the break.
Reversal breakout trade opportunity, will buy break of small triangle which appeared in this strong downtrend, watch out your money management as this is a low prob% reversal trade, market is oversold nicely and I spotted a multiple technical divergence, market is contracted offering low risk but low % opportunity
Market is trying to break for the third time here and is showing some signs of strength, will be looking to build a LONG position around 96.170 level, and will see how the market reacts when it reaches 96.500
Looking for a deeper retracement into the support level around 101.5, market held the big support around 101.2ish and broke and closed above previous structure level around 101.8, showing some bullish strength, will look for a LONG entry on a lower timeframe in the 101.5 area.
Not much convinced about the short side now, thus I will be looking for a bulls pressure above depicted smaller resistance levels, this may take longer to happen so need to be patient. The consolidation is still quite big so I will need to wait for a market structure offering very small risk.
Nice consolidation above previous resistence (strong Close above), ATR very low probably will expand right from the OPEN, higher timeframe is clear, WWDC is coming soon (speculators may be building smaller positions). Buy only if market very strong or consolidating on low ATR above yClose.