JPY pairs Weekly Outlook and Trade Setups

USDJPY- Invalidation of the 15mins consolidation pattern and a break above 159.20, and price will expressly rally to the upside.

USDJPY- On 4hrs, I'm expecting this price to replicate this left side volume from the 158.89 Flip zone, with a rally up to 159.60 and above.

USDJPY- Trade Update
The minor support level at 158.85, did not hold price for long. and price pushed down after breaking below it.

The sells on UJ today drove price down to previous week's High which now acts as a major support at the 158.53, price level.

Price created LTF downtrend line, creating Lower highs and Lower Lows, until it reached, 158.35, and started creating higher highs.

With the New LTF (15mins) Bullish channel formation, price will push back to 159.200 price level.

USDJPY- On 1hr, price is creating a Diverging ascending channel, showing bulls are ready to expand the buys to the upside. Expecting buys to 159.200 as next target.

USDJPY- also on 1hr, a pennant chart pattern is also spotted. This also means that a break on either side of the trendline will decide price next direction.

USDJPY- On the weekly Line Chart, Price is showing a possible sell continuation next week, if this week's candle closes bearish.

Price invalidated the Bullish trend which started last year April, and currently retesting the trend support as a resistance at the 159.78 price level. a break below 158.53 next week, and we will see a strong downside on USDJPY.

Following the weekly perspective on the Daily, price will possibly range between 160.45 (resistance Level) and 158.55 (Support level) next week. A breakout on either side of the zone will determine which direction will continue long term.

H4 has its perspective different from D1 and W1. Price has formed higher lows but yet to break a higher to form a higher high in order to complete the bullish sequence it's showing with the up trendline.

1hr shows a downtrend, which aligns with D1 and WK1 but different from 4hr. will watch out if this will be invalidated for price to continue upwards.

CADJPY- Daily Update
Bias: Bullish
TF: 4hr/1hr/15mins
Technical Outlook: Bullish Ascending Channel

Idea/Approach: Price has been on a consolidation rally to fill up the huge bearish imbalance caused by BOJ intervention on JPY last month because the interest rate was very low.
The fill up is almost complete, and two possibilities can happen. Either, price will continue bullish, or react at the 115.39 proximal weekly supply zone, for strong sells.

CADJPY- price rallied from 114.71 yesterday to 115.39 today, while still confine to the bullish channel.

A break above and retest of the 115.91 price level, will continue the rally next week to 116.48

GBPJPY- Trade Setup
Bias: Bearish
Type-Short
TF-15/30mins
Idea/Approach: Waiting for price to rebound at 215.40, then correct for a retest of the 215.72 price level for entry, then Target profit level at the 215.00 or below yesterday's Low.
Execution-Pending order
Entry- 215.72
SL-215.93
TP-215.00

Comment: Sells on JPY pairs are usually low probability cause bullish spikes can happen, so I'll only enter on confirmation.

GBPJPY- Update
Price has formed a bullish channel and has flipped the resistance at 216.50 to support, retested it and continued it's rally.

Expecting Next week to rally to 217.97, completely filling up the Imbalance, then react for sells at the supply zone.