USDJPY Analysis and Trade Opportunities

18 Jun

Like I mentioned in our weekend live session, I don't see any BOJ intervention happening soon.

The earliest I’m looking is when the market reaches 158.73, with the next level at 159.66.

Around 157.74 is the level I'll be looking for a buying opportunity using the existing strategy that I've used for many years.

Key Levels:
Potential Intervention Levels:
- 158.73
- 159.66

- Buying Opportunity: Around 157.74

Shorting Opportunities:
1-Hourly Chart:
- Bearish Bat Pattern Completion: 158.15
- ABCD Pattern Completion: 158.39 if the Bearish Bat Pattern does not complete

Strategy:
- Buying at 157.74: Use the tried and tested strategy that has worked over the years.

- Shorting Opportunities: Monitor the 1-hourly chart for potential Bearish Bat Pattern at 158.15 and ABCD Pattern at 158.39.

What’s your trade plan for USDJPY? Any valuable insights you’d like to share? Comment down below.