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

Following a rollercoaster🎢 of ups and downs last week, we were able to close the week with over 500pips in profit (see the link below for reference purposes). Results from Friday's data revealed that Japanese manufacturing activity contracted more than expected in December thereby weakening demand and further denting productive capacity. How will this development reflect on the charts? In this video, we looked at the charts from a technical standpoint and identified a structure within the 138 and 135 zones for trading opportunities in the new week.

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You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment.
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Past performance is not necessarily indicative of future results.

Operación activa:

The week has started on a bearish note (selling from 136.750) but as soon as price tested the 135.750, we begin to witness buying pressure from this level. We are going to be patient at this juncture as we need to see if the buy pressure above the 135.700 will hold a bullish momentum or a breakdown of this level might incite a bearish momenutm? Remember that the 136.000 level has a memory for for buying power.

Good morning

Operación activa:

Secure the buy position

Operación activa:

update

Operación activa:

Secure all positions as the second position got triggered. Looking forward to more opportunities.

Operación activa:

Secure buy positions as sell pressure resumes

Operación cerrada manualmente:

So, I missed out on this bearish move this morning after the buy position closed with about 100pips profit. This move is a result of the BoJ Press Conference this morning; at this juncture, I want to wait out and look out for the transition of price action before making any decision. Update coming up soon.

Good morning

Comentarios:

Congratulations to those who took this move!

Operación activa:

Following the huge impulse leg (bearish) that happened yesterday, we have a simple structure on the 15-minute time frame that has a high tendency of going bearish. So as long as price action remains below 132.750, we continue to look for selling pressure. However, if it so happens that a breakout of this structure happened followed with buying pressure above this level (132.750), a possible reversal move might be unfolding.

Operación activa:

Secure all positions at this juncture

Operación cerrada: objetivo alcanzado:

Price hits TP target with over 300pips profit (2 positions)

Congratulations🎊

We shall wait out to see if the market will present to us another trading opportunities

Operación activa:

Following the profitable position yesterday, selling pressure appears to have resumed below 132.200 for the second time this week. Secure position as we look forward to adding more positions.

Good morning

Operación activa:

Secure all sell positions as buy pressure resumes above 131.600. You might want to watch the replay of our live session this morning for insight on how to manage this trade (video on my youtub channel).

Operación activa:

Secure the buy position now as price breaks out of the 132.200 level

Operación activa:

So, in the last 48 hours price action has been caught within the 132.350 and 131.600 to emphasize the indecision in this market. This might not be unconnected to the macroeconomic event coming up later in the day - The US Bureau of Economic Analysis will release the GDP growth for Q3. At this juncture, we shall remain patient and wait out for price action to either breakout or break down the channel for a signal.

Good morning

Operación activa:

Following a positive GDP of 3.2%, it's very likely that the US dollar might soar temporarily at least in the meantime as we look forward to a breakout/retest of the 132.350 level. Please note that we shall keep the option of a breakdown of this channel open too. You might want to watch the replay of our live session this morning for insight on how to manage this trade (video on my youtub channel).

Operación activa:

Outlook on 15 minute timeframe

Operación activa:

The anticipation of the macroeconomic publication - BoJ Monetary Policy Meeting Minutes coming up later in the day appears to be limiting price movement. Patience is highly required at this juncture as the likelihood of a huge move, either way gets stronger.

Operación activa:

Secure the current buy position as sell pressure continues below the 132.500 structure to emphasize the seller's strength at this juncture. If price action takes out the current buy position, we won't be looking for another buying opportunity unless the price breaks out of the 132.500.

Comentarios:

After being taken out of the buy position, the intensity of the selling pressure continues as we edge close to the publication of the BoJ Monetary Policy Meeting Minutes. Despite looking out for buying opportunities at the break out of the 132.500 level, the possibility of a bearish momentum at the breakdown/retest of the 132.200 can not be ignored.

Operación activa:

Secure the buy position as we use the bullish trendline to guide buy opportunities for today.

Good morning

Operación activa:

Secure the buy position as we look forward to adding another position at the breakout/retest of the 132.750. Please note that the bullish trendline shall guide buying opportunities today so a breakdown of this line might negate buying potential.

Operación activa:

Secure the current buy position as we anticipate the macroeconomic event - (Durable Goods Orders and Nondefense Capital Goods Orders ex Aircraft) coming up 30 minutes from now. You might want to watch the replay of our live session this morning on my youtub channel for insights on how to manage this trade. Best of luck

Operación activa:

Secure all buy positions as price action breaks out of the 132.750 level

Comentarios:

The markets have stayed relatively calm as trading conditions remain subdued due to a lack of liquidity heading into the holidays, but It has been a profitable week on the USDJPY so far and congratulations to everyone who was part of this journey!

Merry Christmas to you!