JPY pairs Weekly Outlook and Trade Setups

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USDJPY Update- After the breakout from the Ascending Triangle yesterday, price is back for a rebound of the Flip zone (resistance turn Support) at the 162.84 price region.
To trade this rebound, wait for a solid low to form either on the daily or the 4hr, before joining the buys, as price might create a fake out before continuing the buys from the level.

GBPJPY- 4hr Trade Setup
Bias- Bullish
Technical outlook: Potential Bullish Flag Breakout

Spotted a Bullish flag forming on GBPJPY on 4hrs after the impulsive buys it had last week.
Bullish flags are consolidation patterns that often signify trend continuations when price breakout of it.
It's a phase when price rests and corrects after a strong bullish move, before continuing another rally. On GBPJPY a break above 218.41 will confirm the consolidation is over, and price is ready to continue it's rally.

I won't wait for the breaks upward I will buy immediately price has given a confirmation already but it's 30% probability since price is still consolidating but I have set my buy limit let me hold with my SL in check if price buys till 5pm then I will wait for trigger

I'm taking this sell on GBPJPY because the recent structure is bearish

GBPJPY- Trade Update
Price is still yet to fully break out of the potential bullish flag pattern region. It invalidated the trendline as a resistance and came back to retest it as a support.
An upside break above the 218.60 internal resistance level will result in a strong price breakout for a rally above 219.61

GBPJPY- Trade Update
Price is still yet to fully break out of the potential bullish flag pattern region. It invalidated the trendline as a resistance and came back to retest it as a support.
An upside break above the 218.60 internal resistance level will result in a strong price breakout for a rally above 219.61

You have to be careful though. Most times, JPY pairs don't sell strongly.
How did this go? GBP has been weak today and is the reason GBPJPY is not flying like USDJPY and CADJPY. I'm suspecting the Buys tomorrow or next week.

I'm not expecting the bearish structure to sustain for long.

USDJPY- I had a setup. There's always something for me based on my technical approach, and it delivered. But I didn't remember to set limit.

Was more focused on trading GBPJPY, and that's the one that is dragging.

USDJPY- Trade Update
After the retest of the Ascending Triangle, Price continued its rally, trading above 163,00 highs that was last seen in the 1980s.

Technically, I'm expecting price to get to the upper boundaries of the Bullish channel, possibly around 165,00

GBPJPY- Trade Update
Price is still yet to fully break out of the potential bullish flag pattern region. It invalidated the trendline as a resistance and came back to retest it as a support.
An upside break above the 218.60 internal resistance level will result in a strong price breakout for a rally above 219.61

GBPJPY- Did it trigger your buys today? how did it go, are you holding it? It's just been consolidating today, but I'm expecting it to get serious with the buys from Asian session tomorrow.

GBPJPY- Did it trigger your buys today? how did it go, are you holding it? It's just been consolidating today, but I'm expecting it to get serious with the buys from Asian session tomorrow.

It's still consolidating I am out of the trade for now

The ascending triangle breakout played out well, and the successful retest adds confidence to the bullish continuation. As long as price continues holding above the breakout zone and prints higher highs and higher lows on a lower timeframe the path toward the upper boundary of the bullish channel around 165.00 remains technically valid. DXY strength and any BoJ policy comments are also vital as both could influence whether the rally extends smoothly or experiences a deeper pullback before reaching that target.

I closed it because price returned back to the consolidation level

The retest of the invalidated trendline is a constructive sign for the bulls because previous resistance is attempting to act as new support. However, I wouldn't treat the flag as confirmed until price closes decisively above 218.60 with strong bullish displacement. That would increase the probability of a continuation toward 219.61, while rejection below 218.60 would suggest the consolidation is still ongoing.

I took the gbpjpy trade but when I noticed it was reversing has to go out of the trade

GBPJPY- Trade Update

still holding my positions. Spotted both a pennant and a bullish flag pattern. TP or SL
Not giving this one up easily. Looks like it'll carry over till next week.

USDJPY- Trade Update
After the retest of the Ascending Triangle, Price continued its rally, trading above 163,00 highs that was last seen in the 1980s.

Technically, I'm expecting price to get to the upper boundaries of the Bullish channel, possibly around 165,00