The pair has been bearish in the H4 chart. A down trending trend line is in play, where the price had several rejections. The sellers may wait for the price to have a rejection again to go short in the pair next week.
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i agree i think there’ll be at least one more push up before there’s any other movement down
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A retracment in my eyes such a run for DXY will be interesting to see what the US GDP figures will have in store
Yes mate agree!
USD/JPY back on the charts
I have not touched this pair for the last month as we seen higher highs getting taken all over the place.
Now currently we have seen significant breaks across different timeframes and now broken a daily swing point.
We have retraced slightly and we are back above the 50% level and currently in sell side liquidity.
Ideally we want to break above the previous highs set out today and then break back down with some speed to show willingness to the down side.
Todays 4hour set up DID NOT TAKE THE LOWS so watch out as we could be in for a short term reversal also then you need to switch your bias.
Keep a close eye on market structure and remember key entry and price action will be needed.
Make sure you use proper risk management when trading. Let me know how you get on.
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I am eyeing to go short in the pair as well. The daily chart shows that the price has been in consolidation. A bearish breakout at consolidation support may drive the price towards the South next week.
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It seems likely after such a monumental push on the higher timeframes. Perfect for a counter trend trade
USDJPY
This pair has had a huge break back to the upside.
Pushing up and grabbing liquidity, with NFP tomorrow price has been driven to an area and depending on the news out come. USD has shown some upwards retrace over the last week .
If we were to break above then there is no stopping the pair on the upwards move.
As you can see we are at the 79% on the fib level of the move and stalled, from here I will look for the market session in the morning and wait for the break of market structure from there
key entry and price action will be needed.
Make sure you use proper risk management when trading. Let me know how you get on.
Nice idea just DXY so hard to predict at the moment for sure
The pair made a significant bullish breakout again. It means the buyers may wait for the price to consolidate and produce a bullish reversal pattern to go long in the pair. It may remain bullish for a while in the daily chart.
Back with USDJPY
This pair has been on a ride lately and no entry or set up from its last move. This time I am currently in the move and looking to hold for an 8% account gain.
Currently we have seen this pair punch up higher then before taking out all the sellers over the last week. Finally today there was a break of structure to the down side, clearing the yellow low marked out.
With the use of the fib and a lower time frame entry and small gap in price I found my entry. with SL above with room to move will be holding over night and looking for price to break down over the London session.
If this move plays out then 8% account growth would be enough for the whole week.
Make sure you use proper risk management when trading.
Let me know how you get on.
Such a tricky pair to trade. i can definitely see the logic in your style though for sure
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Agreed Craig. I think this is because they are both considered safe have currencies (or at least were). The battle of the safe havens.
JPY has been picking up steam as off late .
Still looks a solid setup like the QML setups one of my favourites 
USDJPY
This pair looks to be making a drop and has broke structure on the 1 hour TF and leaving relative Equal lows on the 4 hour with the last candle.
I will be looking for 1 of the 2 set ups to form at my points of interest. Looking at both sides of the market for an intraday Buy or Sell.
With the sell set up I am looking for a retracement in to the daily OB an then continuation pushing further down breaking the equal lows.
Or for the Buy for price to continue down the the open imbalance in price and also touch back on the old highs of start of May and then push back up in to the FVG gap on the 4 hour set up.
Both of these set ups would yield around 10% account growth so looking for a good entry is important also.
Keep a close eye on market structure and remember key entry and price action will be needed.
Make sure you use proper risk management when trading. Let me know how you get on.
I just wonder what will happen in a couple of hours after the interest decision - last time 28 April when the decision was how expected -0.1 USD/YEN jumped up. What will happen this time? Is there a chance of a positive rate?
The pair made some strong bullish move. The level of 135.500 seems to be working as a level of resistance. The buyers may wait for the price to make a bullish breakout to go long in the pair again.
USDJPY
Back with a similar set up to last week with the break of structure on the 1 hour TF .
With this set up I am looking for 1 of the 2 set ups to form at my points of interest. Looking at both sides of the market for an intraday sell and longer idea to buy.
With the sell set up I am looking for a retracement in to the OB an then continuation pushing further down breaking the lows and in to the Gap.
Or for the Buy for price to continue down to the gap towards the bottom and then back above the old highs.
Both of these set ups would yield around 5% account growth so looking for a good entry is important also.
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Would definitely like the sell to attack the low marked at 138. Ill keep an eye
Same area for ne on the Sell ties in nicely with my supply zone