The main story during the Asian and European session for USDJPY was end-of-Japanese-financial-year flows, and the Tokyo and London Fix.
During the Asian session, USDJPY fall 111 pips from 98.86 to 97.69, A correction carried USDJPY to the 50% retracement level. A bearish harami ended the correction and pushed the cross downward to a fibo expansion of FE100.00 at 11:45 GMT.( see the 15 MTF chart of USDJPY above). A strong support (the red line) also existed at this level. A possibility of reversal to upside during US session.
.At around 11:30 GMT or about 30 minutes before US session open, I scanned the 1 min USDJPY for scalp trade. (refer to 1 MTF chart below).
At 11:52 USDJPY touched -23.6% spud fibo and the next candle was a harami. My entry was at 11:59 after the blue lag crossed the 15 level, MACD crossed upward and light blue color line of Double CCI cross from below the black color line of 30 period SMA (a positive cross). Two minutes later there is a buy signal for B&S. The next B&S signal was red and was ignored since the other indicators still in buy mode. Exited my position when the prices came to a resistance level of 60 period ema with blue lag started to move downward and the negative cross in Double CCI.
The second entry (the second aqua color triangle) was triggered by the buy signal of B&S, LCD and positive cross of Double CCI. Closed my entry at the 200 period ema (red color). Earned 35 pips for the two trades.
