USDJPY Short Idea
Weekly Trend: Bearish
Daily Trend: Bearish
4hour Trend: Bearish
Trade scenario 1: We’re looking to continue with the bearish trend but will need to see a confirmed lower high first. Wait for a pullback to 104.850 followed by strong rejection. Enter short and target low toward 104.500 and lower.
Trade scenario 2: Price action goes bullish and breaks through our 4hour resistance at 105.000. Wait for a confirmed higher low above this level before going long. Target higher toward key resistance levels.
Weekly Trend: Bearish
Daily Trend: Bearish
4hour Trend: Bearish
Trade scenario 1: We’re looking to continue with the bearish trend but will need to see a confirmed lower high first. Wait for a pullback to 104.850 followed by strong rejection. Enter short and target low toward 104.500 and lower.
Trade scenario 2: Price action goes bullish and breaks through our 4hour resistance at 105.000. Wait for a confirmed higher low above this level before going long. Target higher toward key resistance levels.