USDJPY 30min Analysis February 15th, 2021
Price has started the week with a quick push to the upside towards are key weekly level.
Trade Scenario 1: Bullish - For us to go long we need to see price break above our key weekly level of 105.370. We will then wait for a quick retrace and for price to rebound off the weekly. Enter on strong bullish setups, first targeting previous highs around 105.700
Trade Scenario 2: Bearish - For us to go short we want to see price reject off our key weekly, forming a bit of a double top. We will enter on strong bearish setups off the weekly, first targeting around 105.000
Trade Scenario 1: Bullish - For us to go long we need to see price break above our key weekly level of 105.370. We will then wait for a quick retrace and for price to rebound off the weekly. Enter on strong bullish setups, first targeting previous highs around 105.700
Trade Scenario 2: Bearish - For us to go short we want to see price reject off our key weekly, forming a bit of a double top. We will enter on strong bearish setups off the weekly, first targeting around 105.000
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