In our latest session, we took a close look at the Yen basket and shared some setups we’re personally watching. For GBP/JPY, our attention is on the 199.422 level — we expect price to retrace into that zone before showing signs of weakness and setting up for a potential sell-off. What we’ll be watching for at that level are rejection signals like Dojis, engulfing candles, or even an evening star formation, especially on the 5-minute and 15-minute timeframes. Those lower-timeframe confirmations are what give us the confidence to take entries instead of just guessing.
We also shared our view on EUR/JPY, which right now is sitting at a premium zone that could produce a very similar sell opportunity. The plan is the same: wait for the market to “show its hand” with rejection candles before pulling the trigger. It’s all about letting the market confirm the story we already see on the charts.
One thing we stressed in the discussion is risk management. Rather than stacking heavy positions on one pair, we suggest spreading risk across both GBP/JPY and EUR/JPY. That way, you’re not overexposed if one setup fails — you’ve diversified your positions while still taking advantage of what the Yen basket is offering.
We also encouraged everyone in the community to replicate our chart markups on their own platforms. It’s not just about copying levels; it’s about training your eyes to see structure, patterns, and setups for yourself. That’s the skillset that turns you into an independent trader.
For those of you who want to go deeper, this is exactly the type of practical, strategy-driven analysis we dive into in our FX Bootcamp training program. If you’ve been sitting on the fence about joining, now’s the time. We cover everything from multi-timeframe analysis to risk-to-reward optimization — and most importantly, how to actually apply it in live markets like the one we just discussed.
So here’s the game plan going forward:
- Watch GBP/JPY closely when it retraces into 199.422.
- Look for rejection candles on GBP/JPY and EUR/JPY on the 5-min and 15-min charts before selling.
- Spread your risk across both trades if they align.
- Replicate the chart markups to sharpen your analysis skills.
- Join us again at 2 PM GMT+1 for the New York session recap.
- DM us on Telegram or WhatsApp if you’re ready to secure your spot for the August edition of FX Bootcamp.
We’re really excited about these Yen setups, and we want you to not just trade them, but also understand why they make sense. Trading isn’t about rushing in; it’s about patience, confirmation, and confidence. That’s the approach we’ll keep pushing as a community.