Weekly Price Action Setups & Key Levels | Jan 29 - Feb 3

usdjpy price action structure 2ndskiesforex

​My Current Active Open Trades: EURUSD, GBPJPY, AUDUSD, USDRUB, AUDNZD

USDJPY – MT Corrective Price Action Still Dominates (4hr chart)
After gaining about +250 pips last week, the USDJPY hit a key RRL around 115.20 that we’ve talked about in prior commentaries. For now the corrective price action structure between 115.20 and 112.75 still dominates.

I’m expecting bears to take profit on the bottom lows with value buyers coming in at the structural lows. So look to trade both sides until we see a daily close outside of this structure.


EURUSD – Price Action Continues to Build Towards Key Resistance Level (daily chart)
As we’ve mentioned in our recent market commentaries, the EURUSD price action contnues to build

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