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USDJPY (18July -22July) Outlook
Weekly
Closed the week with bullish engulfing bar signaling a trend change to bull bias.
Confirm with next week candle.
Daily
Friday close formed a pinbar with highest volume for the week which i guess a profit taking event.
Looking at the volume and situation (monitoring Abenomics rumors/news) last friday, we could expect it will retest 104.xx-103.xx zone next week.
My trading plan
Look for bull signal during the above-mentioned retracement.
EP- 103.xx-104.xx
TP- 107.xx-108.xx
SL- <102.xx
Closed the week with bullish engulfing bar signaling a trend change to bull bias.
Confirm with next week candle.
Daily
Friday close formed a pinbar with highest volume for the week which i guess a profit taking event.
Looking at the volume and situation (monitoring Abenomics rumors/news) last friday, we could expect it will retest 104.xx-103.xx zone next week.
My trading plan
Look for bull signal during the above-mentioned retracement.
EP- 103.xx-104.xx
TP- 107.xx-108.xx
SL- <102.xx
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