Using Chris Derrick's Floor & Ceiling method, I've boiled down to three option for USDJPY in the upcoming week. 2 long 1 Short.
1. Bearish movement to the 106.776 area before climbing to 108.445. (long on floor)
2. Bearish movement past the 106.776 area with a retest following before descending further. (short on retest)
3. Bullish movement before descending down to 106.776 retest before becoming bullish again. (Long on retest)
1. Bearish movement to the 106.776 area before climbing to 108.445. (long on floor)
2. Bearish movement past the 106.776 area with a retest following before descending further. (short on retest)
3. Bullish movement before descending down to 106.776 retest before becoming bullish again. (Long on retest)
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