USDJPY Bearish Idea
Weekly Trend: Bullish
Daily Trend: Bearish
4hour Trend: Bearish
Trade scenario 1: Definitely looking bearish here overall but we have recently been consolidating and forming a pattern.
From here we’re looking for this recent break to follow through for confirmation. Once this happens we can enter short and target lower toward key support levels.
Trade scenario 2: For us to consider UJ bullish we ideally need to break above 110.000/ 110.300 area with a confirmed higher low above.
Weekly Trend: Bullish
Daily Trend: Bearish
4hour Trend: Bearish
Trade scenario 1: Definitely looking bearish here overall but we have recently been consolidating and forming a pattern.
From here we’re looking for this recent break to follow through for confirmation. Once this happens we can enter short and target lower toward key support levels.
Trade scenario 2: For us to consider UJ bullish we ideally need to break above 110.000/ 110.300 area with a confirmed higher low above.