USDJPY Trade Scalp Setup

USDJPY Trade Scalp Setup

Hourly Chart

• Because My Trend Filter for the 1hr time frame is giving me bullish signals and with price action starting to have higher high and higher lows , i am looking for long scalps tomorow
• Confluence of 61.8 and 50 fib together
• Previous resistance which now is support (top bottom)
• 30 and 50 SMA is around that level
• Nikkei is strong (which is positive correlation) however do note the DXY is weak which may have an effect, however as we are trading at strong support the risk is lower

Outlook Trade opportunity

As per hourly chart

*note to trade lightly as against the 4hr and daily trend

Risk Level MEDIUM

Tips -

Always take note of any economical news event on our provided calender below

NIKKEI Forecast and Trade Setup for the week ending 4th July 2014

NIKKEI Forecast and Trade Setup for the week ending 4th July 2014

Daily Chart

• I haven't updated my analysis since 14th of April 2014 - Back then where I predicted that we could go long and aim for new highs.

• We are now trading well above the 3 x Moving averages and above the Ichimoku after very strong bullish price action moves.  
• The next major resistance is our yearly highs and potentially if we broke above that we could aim for 17000