The NFP with all accompanying data (Average Hourly Earnings and Unemployment Rate) will determine the next move on the USD/JPY, popular “Ninja”. A this point we can see that the pair has been bought on dips but the negative result might tunrn the tables. 111.40-50 is the POC zone for buyers and the rejection from the zone will make a Bullish SHS pattern (inverted head and shoulders). However a drop below 111.20 will be a bearish sign with the pair targeting 110.75 and 110.40 below.
W L3 – Weekly Camarilla Pivot (Weekly Interim Support)
W H3 – Weekly Camarilla Pivot (Weekly Interim Resistance)
W H4 – Weekly Camarilla Pivot (Strong Weekly Resistance)
D H4 – Daily Camarilla Pivot (Very Strong Daily Resistance)
D L3 – Daily Camarilla Pivot (Daily Support)
D L4 – Daily H4 Camarilla (Very Strong Daily Support)
POC – Point Of Confluence (The zone where we expect price to react aka entry zone)
