USDJPY set up ideas and trades

[pezz55]

USDJPY
Looking for a Friday sell retracement of the weekly move.
As you can see we broke right back up to the top of last weeks range and have held at this top range, setting up for a Friday move with a pump back up to the previous highs taking out the range and liquidity from there i will be looking for a 30%-50% retracement of the range and targeting below the relative equal lows.
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.

Thoughts on the markets at the moment?

 

[Stoic]

The level of 144.750 may work as a level of resistance. The sellers should wait for the price to produce a bearish reversal pattern to go short in the pair from that level.

shorts on such a trend are very dangerous. it looks like they want to upgrade the high and reach 150

 

[TareqS]

The pair is traded around 145.875. It had a strong rejection at that level earlier. A bearish reversal pattern at that level may attract the sellers to go short in the pair. The H4 chart suggests that the price may find its resistance at that level. Thus, it is very likely that the Bear may take over.

 

[Stoic]

The pair is traded around 145.875. It had a strong rejection at that level earlier. A bearish reversal pattern at that level may attract the sellers to go short in the pair. The H4 chart suggests that the price may find its resistance at that level. Thus, it is very likely that the Bear may take over.

by that time already almost 147...

 

[TareqS]

The pair has been up trending in the H4 chart by following a trend line. The buyers may wait for the price to come at the trendline's support and go long upon having bullish reversal pattern. The pair is traded above 146.000. Thus, we may see more bullish move in the pair for some days.

 

[ForexTus]

Ill be checking DXY too. I think its definitely in need of a correction which would support mid term sells

 

[TareqS]

The pair after making a strong bullish move seems to be consolidating in the H4 chart. The buyers may wait for another breakout at consolidation resistance to go long in the pair.

 

[TareqS]

The pair is trending towards the North. However, the way it has been going towards the North this week, it may attract the sellers to keep their eyes in the pair. A bullish trend line can be drawn for this week. If that gets broken, the pair may make a bearish move in intraday charts.

 

[Stoic]

as it turned out, the beautiful level of 150 is not a reason for the bulls to stop

 

[ForexTus]

as it turned out, the beautiful level of 150 is not a reason for the bulls to stop

When the strong fundamentals are at play i think no numbers are safe lol