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

The U.S. labor market report remained surprisingly strong despite ongoing efforts by the Federal Reserve to tamp down demand. The US Dollar rallied about 2% on Friday following higher-than-expected non-farm payroll data which came in at a whopping 517,000 through the middle of January. This video illustrates a technical perspective on the current market structure to decipher potential trading opportunities in the coming week.

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Trade attivo:

The week has started on a bullish note as price action takes out the supply zone identified in the video at the 131.000 zone to signal a potential bullish momentum. Will this turen out to be a true or false breakout? So, on the chart is a simple set-up where if the buy pressure observed around the 131.600 in the last 4 hours continues, then we shall look for buying opportunities from this structure on the lower time frame and a further breakout of the the week's new resistance at the 132.500 level will welcome additional position. Update coming up soon

Goodd morning

Trade attivo:

Outlook on 15-minutes timeframe. Keeping the option of a breakdown/retest of the 131.600 level open

Trade attivo:

Secure the current buy position as we look forward to adding more positions at the breakout/retest of the 132.350 level. Watch the replay of our live session this morning on my channel for more details.

Trade attivo:

Secure all buy positions now as the second position was triggered at the breakout of the 132.350 level.

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UPDATE

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After being taken out of the buy position as price action break down the trendline, Lets hold on to see how price action plays out in the next hour for our next line of action. Update coming soon

Good morning

Trade attivo:

Anticipating another buying opportunity above the 132.350 level as buying pressure resumes around the 132.000 level

Trade attivo:

We might be witnessing a "shake-out" at the moment as price action still remains above a zone that is characterized by buying pressure since the beginning of the week. Still looking forward to buying opportunities as long as the price remains within this structure (which is above the supply zone identified in the video at around 131.00 - watch the video again for reference purposes).

Trade attivo:

As selling pressure continues, risking a sell position at the breakdown/retest of the 131.600 in anticipation of a retracement of the previous impulse leg... update coming up soon

Trade attivo:

Just as discussed during our live session today; the buy position is triggered at 131.900 after the appearance of buying pressure. We anticipate more opportunities at the breakout/retest of the 132.350 level. Update coming up soon.

Trade attivo:

Secure the buy position to avoid being taken out in the negatives

Trade attivo:

Just as projected during our live session this morning, price action takes out the buy position to trigger the sell stop at the 131.600 level to pronounce the retracement of the previous impulse leg. Fed's Chair Powell speech coming up in an hour

Trade attivo:

Secure all sell positions as the second position was triggered at the breakdown of the 131.200 level

Trade attivo:

Outlook on the 4H timeframe s discussed during our live session today

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UPDATE

Trade attivo:

Buy pressure resumes above 131.000 level

Good morning

Trade attivo:

Selling pressure continues

Trade attivo:

Secure all sell positions as buying pressure gradually surfaces. As discussed during our live session today (video on my channel), we have identified a flat channel within the 131.350 and 130.500 range as we look forward to a breakout for trading opportunities.

Trade attivo:

Price action finally breaks out of both the 131.500 and trendline for the first time in the last 24 hours

Trade attivo:

Price action takes out the buy position at break-even as the price drops back into the flat channel identified earlier. Expectation still remains the same as a breakout or breakdown of this channel is the signal to lookout for trading opportunities.

Good morning

Trade attivo:

Been waiting for the breakdown of the 131.000 level for selling opportunities, so a retest or rejection of the 131.000 level will welcome a sell position

Trade attivo:

Secure sell position as price action retests and rejects the 131.000 level

Trade attivo:

Secure all sell positions

Trade attivo:

The sell position has been taken out as price action climbs back into the flat channel (131.600 and 130.600). So, we are falling back to our previous tendency where a breakout or breakdown of the channel will be our guide for trading opportunities.

Trade attivo:

Secure the buy position as we look forward to more opportunities

Trade chiuso manualmente:

Taken out of the buy position at break-even as selling pressure resumes hereby bringing price action back into the channel. (131.600 and 130.600). So, we are falling back to our previous tendency where a breakout or breakdown of the channel will be our guide for trading opportunities.

Good morning

Trade attivo:

Secure position as price action trigger sell order at the 130.600 level

Trade chiuso manualmente:

Price action takes out the buy position at break-even again! hereby bringing price action back into the channel. (131.600 and 130.600). So, we are falling back to our previous tendency where a breakout or breakdown of the channel will be our guide for trading opportunities.

Trade attivo:

FRESH NEW LOOK

Markets have remained indecisive in the last 11 hours as all eyes remain fixed on the outcome from Michigan Consumer Sentiment Index which is coming up in 45 minutes, In that regard, this is what I see from another technical angle on the 1H timeframe.

Trade attivo:

Secure the buy position as price action breakout of the 131.000 Level as projected.

Trade attivo:

UPDATE