Weekly Forex Price Action Setups & Key Levels | Oct 4-9

usdjpy

USDJPY – Buy Setup At Support Profits (4hr chart)
Thursday in the members trade setups commentary, we talked about how it being unlikely the USDJPY would break below the range and to buy on the bottom between 119 and 118.75. As we can see from the chart below, this is exactly what happened with the pair bouncing over +100 pips off the lows.

Congrats to the members who profited from this trade. Notice how waiting for a confirmation price action signal would have resulted in you missing this trade completely.

For now resistance comes in between 121 and 121.63 which I’m expecting to hold for now so looking to get bearish. Only a daily close outside this balancing zone negates

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