• Last week we have seen a bullish Pin bar candle from an important Support level which had provided some bullish momentum
• there was also a stochastics bullish divergence
• Having said that, I do not like the fact that the support zone has been tested too many times and it does hint to me it will break the support as all the buy has been filled
• we have the Ichimoku clouds and trendline in a strong resistance area which may limit the upside

• Using Ichimoku study, on the H4 chart we are trading above the clouds suggesting of a bullish trend.
• should take note that it only broke through a thin ichimoku clouds (which could give a false signal)
• Currently we are flirting around the Support and Resistance zone and if we managed to bypass that to the upside then we may see it retest the 102.50 and which comes with a very strong resistance together with confluence of 88.6/50 fib and monthly pivots and weekly R1 pivots
• If so, this could be a potential bearish cypher (sorry didn't illustrate the chart with the triangles)

• In conjunction with my analysis for UJ earlier this week, I identified bullish signals, therefore i have set my buy orders at high prob retrace fib number.
• For this trade i am placing just above the 78.6 as i see a potential to the upside.
• Note we did try to break above the 4hr Ichimoku clouds, then failed and this could be a market retest / false break the s/r before the some bullish movement.
• My R:R is 1:1 - currently my order which got filled was nearly to the pip so didn't get any price movement against me. Will take out the risk when appropriate to secure my profits.

• On the Daily Chart we have seen continued support at around the 101 area where market rejected.
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• Price action gives us bullish signals
• has shown that we have come out from the descending channel
• rejection from 101.xx support
• Possible false break from the ascending trendline (long term and the medium term trend line)
• As we are trading near the bearish Clouds, It would be interesting to see what the market will react. however given the fact that Dollar Index is strong and as reflected on this USDJPY pair, it would be not surprising if we were to test the monthly pivot in the near term
• Further along, I could see a potential towards the upside to test the 103 zone where a possible bearish bat pattern

• We had a continous bullish days last week, where we have broken slightly resistance,
• Today's candle is showing some bearish price action, but this could be a retest of the breakout zone / retest support before continuation to the upside
• Note there is the ichimoku clouds which could give some resistance
• Bias is bullish since we have broken the descending trendline, and had retested the bottom and rejected also from an long term ascending trendline.

• Although we have broken resistance, and trading majority in the s/r zone, I believe what is stopping the bullish momentum is the Monthly pivot, and confluence of the 50% fib and the clouds.
• Having the strong resistance, it could be possible for price to pull back and reload again to the upside to break it.

• We have been trading between the 101-103 region for nearly two months now
• Approaching the ascending trendline

• Ichimoku lines are squeezed and possibly indicating some bullish action if prices move up further, however upside could be limited from clouds trendlines and fib levels from last weeks sell off.

• Last week Candle was a Shooting Star Pattern 
• Cautious here because the Body of the candle is above previous body, which has a lower chance of a reversal candle

Daily Chart

• Early Asian Session we continue to see sell off, however bound a good bounce from the monthly pivot / W S1 Pivot which also is a previous resistance, which becomes support
• I would like a smaller push down towards 102.500-600 before attempting a long scalp
• Stochastics on the H4 is at oversold still

• Last week's Candle action is pretty negative, however have closed the week pretty much eating all the gains from the previous week but not penetrating its lows
• Lower body of the Weekly Candle is flat for the last three weeks showing respect the 50% retrace level support
• Stochastics is rising 

• Both charts are H4 -

• There are two obstacles to go through this week if market was to retrace back to fib 50/61.8 level where it is also where the Clouds are (more strength to act as resistance)
• Weekly Pivot and Monthly pivot both is between the 23.6 and 36.2 level, , and if we look left, there is minor s/r there

Daily Chart

• You see i have a Bat pattern drawn, which actually will be the same PRZ zone on the Cypher I mentioned on the Daily summary
• The most recent Price action suggest we have topped , however support is also near

• On the 4 hourly chart, i can identify a equal measured move, which falls right at my blue zone (PRZ zone)
• Will take this trade as a longer term trade, stops will be wide

Hourly Chart

• Rejection from the 61.8% retrace + Trendline
• Negative divergence in stochastic

• Reason why i am using the Ichikumo indicator is that the yen pairs do respect this indicators more than any other currency.
• As you can see on the daily, it has rejected the clouds , however the lines (you can say the moving average line) is acting as minor resistance for the meantime
• Although the clouds have been rejected, we cannot ignore the fact that it looks bearish, and i would like this to reach my first level of support on my chart and go long. (note second level of resis, might not be reached)

• On the hourly, if we get into my sell zone, i would be looking to do a 80% scalp and leave 20% trade and possibly ride into new lows (as mentioned in Daily Chart)

• Ascending trend line is near
• On yen pairs, using ichikumo indicator is ideal, and if you put it on the daily chart, we are hitting the clouds / supports/ and the 101.300 approx is in the clouds
• On the chart, there are two support levels to look for trades

Hourly Chart

• After breaking support, We would be looking to sell on the retest which now is resistance.
• The next level of support is drawn on the hourly where a possible bounce scalp is possible / also shown on 4hr chart