On Friday, April 3rd, USDJPY breached the 100 after the Non-Farm report. It was a significant push forward and long awaited. Although the pair continued to flirt with the 100 line, it finally finished the forex week well above 100.
USD/JPY began this week with a blast, rising above 101 and forgetting about 100. Now that there’s another digit - what’s next?
This morning, Tokyo stocks are expected to fall for the first time in five trading days., after the Nikkei approached the psychologically important level of 9,000 and then lost momentum on Monday. The benchmark index will likely follow an overnight fall on Wall Street, which was also the first decline in five trading days.
The Nikkei opened 0.2% lower at 8,838.66 (24:00 GMT).
My scalp trades as depicted in the chart above are as follows;
1. SELL at
- At the swing high of 100.67 is the 38.2 % retracement of early morning swing high of 101.09 and swing low of 100.40 . That level was thrice tested but failed to be penetrated.
- On 5 MTF chart, a bearish harami cross ( a bullish candle follow by a doji) has formed in the previous two candles.
-Sell signals of blue lag crossed 85 from above, a Double CCI cross over from above, and MACD bearish sign.
Target at S1 or 161.8% retracement. Exited at
2. BUY at
-Double CCI cross over from below,
-MACD steadily bullish sign
-the blue lag approaching the 85 level with the red lag ready to cross over the 15 .
