USDJPY 30min Analysis February 24th, 2021
We have a nice doublet bottom at our structure zone of 105.800. We are looking to continue the bullish trend into our next key weekly level.
Trade Scenario 1: Bullish - For us to go long we are looking for a quick break and retest of 105.975. We will look to enter on strong bullish setups at this level, first targeting the next key weekly at 106.170
Trade Scenario 2: Bearish - For us to go short we can aggressively enter on a double top at 106.00 or we wait for a strong bearish push below 105.800. We will then wait for a retrace and for 105.800 to flip as resistance.
Trade Scenario 1: Bullish - For us to go long we are looking for a quick break and retest of 105.975. We will look to enter on strong bullish setups at this level, first targeting the next key weekly at 106.170
Trade Scenario 2: Bearish - For us to go short we can aggressively enter on a double top at 106.00 or we wait for a strong bearish push below 105.800. We will then wait for a retrace and for 105.800 to flip as resistance.
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