USD/JPY Discussion

#gbpjpy longs. I exited the position before fomc minutes just incase
#forextrader #forexinvestor

The USDJPY pair's upward movement has approached the resistance level of 155.60. I'm considering selling from this level, targeting the support level of 154.58.

Target hit

The USDJPY price action on the H4 time frame is sideways at the 155.055 intra-day horizontal resistance. Nevertheless, we may still see further northward price action in the early part of this week.

I may be wrong. Trade safe and prosper.

KP

Attached Image (click to enlarge)

Fundamentally, the Trump administration's tariffs will likely lead to higher prices. If there is an Iran issue, there will be dollar buying in times of crisis, which will likely lead to a stronger dollar.

After bouncing down from the 155.60 resistance level, the USDJPY pair broke below the 154.58 support level, consolidating below it. This level has now become resistance, from which I'm considering selling with a target of the 153.66 support level.

$JY 5' --- WTF happened here. . .? ? ?

It seems to me like a legit bounce from 155

Fib 0.618 sellers stop loss hunt / liquidity sweep ?

buy entry
155.610
sl 155.450
target 156.600 (or exit before NY Open)

Fib level + liquidity setup