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

Following our previous analysis on the USDJPY where it was possible to scoop over 500 pips profit (see link below for reference purposes); price action is at a critical juncture at the moment as it oscillates around the 128.000 level. The Greenback weakens in the wake of the CPI and the Japanese Yen continues to soar ahead of the BoJ monetary policy and interest rate decision this week. Despite the US Dollar slipping to its lowest level since June 2022; there is still a long-term bullish momentum from a higher time frame's perspective (daily and weekly). Following Thursday's data showing that U.S. CPI inflation eased in December 2022, could this be a sign to anticipate a reversal pattern in the coming week or events from the BoJ will send a new wave of sell-offs in this market?

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交易進行

Price action breakdown of the trendline identified on the 15min timeframe and a possible retest of structure is likely what we are seeing right now. So, we are going to be selling at the breakdown/retest of the support level at 127.750. However, if price action climbs up and breakouts/retests the 128.200, we shall be anticipating a buy position.

Good morning

交易進行

Secure buy position as price action breaks out of the 128.200 level

交易進行

Secure buy position while we anticipate additional position at the breakout/retest of the 128.750

交易進行

Just as discussed during our live session this morning

交易進行

Secure the buy positions as we shall be using the trendline as a yardstick for trading activities for today... Update coming up soon

Good morning

交易進行

UPDATE

交易進行

We get ready for the sell position at breakdown/retest of the 128.250 as price action takes out the buy position

交易進行

Selling pressure continues as everyone anticipates the Bank of Japan activities (Interest Rate Decision, Monetary Policy Statement & Press Conference) coming up hours from now.
Not buying unless a breakout/retest of the 129.000/129.250 zone.

交易進行

Price action takes out the sell position to trigger the buy-stop order at the breakout of the 129.000 zone. Secure the current buy position as we look forward to adding more positions at the retest of the key level at the 130.000 Level.

Good morning

交易進行

The BoJ decision to keep the monetary policy settings and yield curve control policy unchanged has been responsible for the bullish traction for the US Dollar and this development has a high chance of lingering for a while. So, we shall remain patient for a bullish opportunity to join another potential bullish wave. Update coming up soon.

交易進行

As we anticipate data from the Retail sales report in 25 minutes; buying pressure is observed accumulating around the 129.000 level. So, buying from this structure should be mature at the breakout/retest of the 129.250.

交易進行

The Retail sales data came in below expectation and this development might reflect as bullish traction for the US dollar. Update coming in soon

交易進行

Risking a buy position at the 128.250 level as price action comes back to the zone where the previous impulse leg started.

交易進行

Secure the current buy position

交易進行

Taking of the buy positions as buy pressure resumes again at the 128.000 level.

Good morning

交易進行

Just as discussed during the live session this morning, the buy position triggered at the breakout of 128.250. Secure position

交易進行

Secure buy position as bulls are finding difficult to find new highs

交易進行

As selling pressure continues, we shall be looking forward to selling opportunities at the breakdown/retest of the 128.250/128.000 zone. Ensuring that all buy positions are secure.