USDJPY Bullish Idea
Weekly Trend: Bullish
Daily Trend: Bullish
4hour Trend: Bullish
Trade scenario 1: Still very bullish on UJ and it looks like it’s getting ready for it’s next move.
Price action recently formed a higher low above 134.000 and is showing signs of bullish conviction which could bring us to a new high.
Look for strong conviction right now to enter long. Look to target higher toward the prior high and -27% fib level.
Trade scenario 2: For us to see UJ as more bearish we first need to see a break of 134.000 with structure below.
Weekly Trend: Bullish
Daily Trend: Bullish
4hour Trend: Bullish
Trade scenario 1: Still very bullish on UJ and it looks like it’s getting ready for it’s next move.
Price action recently formed a higher low above 134.000 and is showing signs of bullish conviction which could bring us to a new high.
Look for strong conviction right now to enter long. Look to target higher toward the prior high and -27% fib level.
Trade scenario 2: For us to see UJ as more bearish we first need to see a break of 134.000 with structure below.
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