USDJPY OUTLOOK

6 sty 2022

Looks like the price of usd/jpy may go up even higher for the following reasons:

first and most importantly we note that price has created a descending triangle, a pattern indicating usually being a strong signal for bullish movement to begin
The RSI has pushed above 50%

I had sent the idea to my students before posting this so take profit one has already been hit however we still are expecting a pull back to the area circled in red that could be your entry point as it matches the support and 4H - Daily trendline. if market continues to move bullish and does pull back to the red circle. look for retracements then enter.
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fundamentals

THURSDAY, JANUARY 6
23:30
JPY Overall Household Spending (YoY)(Nov)
JPY Tokyo Consumer Price Index (YoY)(Dec)
JPY Tokyo CPI ex Food, Energy (YoY)(Dec)
JPY Tokyo CPI ex Fresh Food (YoY)(Dec)
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FRIDAY, JANUARY 7
13:30
USD Average Hourly Earnings (MoM)(Dec)
USD Average Hourly Earnings (YoY)(Dec)
USD Average Weekly Hours(Dec)
USD Nonfarm Payrolls(Dec) (NB!!)
USD U6 Underemployment Rate(Dec)
USD Unemployment Rate(Dec)