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

The U.S. dollar edged lower to post a weekly loss on dovish projection from the Federal Reserve. From a technical standpoint, it is worth noting that the price has been caught within a support and resistance (142.500 and 138.000) in the last two weeks to emphasize the indecision in the market. The coming week is laced with major market-moving economic releases, both from the US and Japan; the fundamental backdrop from these events will be anticipated by participants in this market as the price remains within the identified channel which also shares a confluence with the bullish trendline on the daily timeframe hence warrants some detailed understanding of the current structure before positioning ourselves for any trading opportunity.

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We continue to monitor price action as the price is between 138.00 and 139.600 and a breakout or breakdown from either side might incite the direction to take advantage of. However, if buy pressure is observed on the lower time frame above the 138.000 level, it could be an opportunity to buy. Update coming up soon.

Good morning

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QUICK UPDATE

secure sell position as price breaks down the support level

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This was discussed at length during our live session today (video uploaded on youtub channel). After the price takes out the sell position, buying pressure is observed on the lower timeframe around the 138.100 level.

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buy pressure continues; secure position

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With the appearance of sell pressure, the structure is still within the purview of our previous expectations. I shall continue to monitor price action... Update coming up soon.

Good morning

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Secure buy position

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Secure the buy position as selling pressure reappears.

Good morning

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This was duly explained in our live session today (the video will be uploaded shortly on my youtub); Expectations illustrated on the charts

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Secure the buy position; update coming up soon

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Secure position, Fed's Chair Powell's speech coming up in 10 minutes

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We maintain existing bias as we wait for the 1hour candle to close

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Price takes out the running position with small profit as the US Dollar plunges following the FOMC hence missing this move, we remain patient at this juncture to look out for opportunities to join the trend. Update coming up soon!

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It's looking very bearish from the current structure and I have illustrated my possible expectation on the chart, Update coming soon as we continue to monitor price action and congrats to those who took advantage of the bearish move so far.

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Woke up this morning to realize that I have missed the breakdown/retest of the 138.100 zone as the price heads back to the key level on the daily timeframe at the 135.000 level. Price action is still been monitored and congrats to those who took advantage of this move.

Good morning

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NFP is coming up in an hour. If you missed our live session today watch the video on my youtub channel to see what our expectations are against this event (the video will be uploaded soon).