USD/JPY

Nice setup

Are you done trading for the day?

No, I have a long trade on eurusd that is still running

I noticed there was an unfilled weekend gap below the Asian box, so I shorted towards the gap. I have now covered my shorts and closed out for 10 pips profit each on 5 trades.

Today the playbook for USD/JPY was fake of Pre-Franky low, so the right thing to do was to buy at the bullish engulfing pattern. Although there was an option barrier at 156, it was too far away to have any effect on price action.

I am long on USD/JPY because price broke out of the Asian range and started reversing back into it leaving a bullish engulfing pattern in its trail, which served as my buy signal.

Clean execution on this one. The Asia range reclaim is one of the most reliable setups on the board when it plays out like this, price sweeps the low, clears out the liquidity sitting below those overnight lows, then immediately rejects and drives back inside the range. That's not random. That's the market showing you exactly where the orders were.

The bullish engulfing on the 5-min right at that reclaim level is good confirmation.

TP sitting at 159.223 makes sense too, targeting back into the mid-range.

There are usd/jpy option clusters around 158 level so I suspect price may fall towards it, If I get stopped out I will position for a sell

I am closing the buy trade here and will prepare to position for a sell towards the option expiries at 158 level

Nice move locking in the buy profit, the rejection from the highs was a clear sign momentum was fading.

Flipping short toward 158.00 makes perfect sense with the options expiry acting as a magnet.

Structure is already printing lower highs on the 5-minute, so the bias aligns well. Ideally looking for a clean retest of 159.22–159.25 as confirmation before committing to the sell.

I am long usd/jpy and my profit target is around 158.4 where some expiries are seated.

Solid setup

I got stopped out of this trade, USD/JPY has been behaving funny lately I suspect it has to do with the Bank of Japan interventions on the Yen