USDJPY Outlook Week 8 Day 22USD/JPYOANDA:USDJPYtopekekereLast year, dealers, market makers or the market in itself showed us a structure. As speculative traders, we follow the dealers and achieve a minimum objective to book a profit. In that structure, we observe the demand zone between 140 and 143 and a supply zone at 158 and 162. If you follow my tradingview prediction or speculation on Jan 5, I speculated two things. One was that market could raid 158 levels and be bullish. Even though this asset did not remain bullish above 162, it did provide buying opportunities for bullish traders looking to buy above 158. I also speculated that if the asset traded below 155.706 sellers could jump in. Again this analysis, provided opportunities for sellers. As long as you are not bonded and married to your sentiment in the market and looking for a minimum profit objective, you will be a profitable trader. This week, we consolidate our demand and supply to be the horizontal lines on the chart. With 158 line and 162 bounding our supply zone and 140 and 143 our demand zone. Therefore, our 50 fibbonacci and golden levels (not shown) is 149.535 and 147.326, respectively. If you draw with your fibonnacci tool from 140 to 158, you will arrive at the same values with me or roughly so. I can then speculate again, (remember that price is cyclic - favouring the buyers and sellers alike) should price remain above 149.5, the asset is bullish and should price trend below the 147.326, the asset is bearish. On tradingview, I have left the golden lines at 151.378 and 149.336 price levels because it concides with an area with there was market gap. These golden lines are the average or the division between the demand and supply zones. Overall, my sentiment on this asset is bullish until price trends below 140. My sentiment will be confirmed when price trends above 162. On weekly analysis, M15 chart, the high of this asset is 155.5 and the low is 152.571. I expect the asset to retrace to 153.9 on the average or 153.562 golden retracement level, before buying the asset. If you like my post, please give it a boost and let me know if there is an asset you want me to analyse. Share your own views with me in the comments section below Disclaimer: This is not financial or trading advice; it is only for educational purposes.