TradeCompass for Japanese Yen

TradeCompass: January 17, 2025Financial Instrument: Japanese Yen FuturesPrice at the Time of Analysis: 0.006457

Bullish Case

• Bullish Above: 0.00647
• Why Bullish Above: This level is above today’s VWAP and Point of Control (POC), signaling potential buyer dominance if price sustains above this threshold.
• Profit Targets for Long Positions:
  1. 0.0064780
  2. 0.006495
  3. 0.006500

Bearish Case

• Bearish Below: 0.006448
• Why Bearish Below: Sustaining below this level would place the price below yesterday’s POC, indicating seller control.
• Profit Targets for Short Positions:
  1. 0.0064405 (Value Area Low of January 16)
  2. 0.0064240 (VWAP from January 15)
  3. 0.0064160 (Value Area Low of January 15)

TradeCompass Strategy Note

This analysis highlights the importance of observing price behavior near the thresholds of 0.00647 and 0.006448. Traders should consider partial profit-taking at the specified levels and adjust their risk management strategy accordingly. Always monitor volumetric stats and Delta progression near these key levels for stronger confirmation.

Trade at your own risk.

This article was written by Itai Levitan at www.forexlive.com.