USDJPY Bullish Idea
Weekly Trend: Bullish
Daily Trend: Bullish
4hour Trend: Bullish
Trade scenario 1: We are looking strongly bullish here on UJ and price action has not shown signs of slowing down yet.
The likely scenario is that price action continues in this 4hour channel and moves higher. Be cautious entering long as we are over extended on the daily timeframe.
Trade scenario 2: For us to consider UJ bearish we would need to see a break of this bullish channel.
Look for a break below 125.700 first, we want to see price action test 125.000 as this is our key zone.
How price action reacts at 125.000 will determine where we look for trades next. I personally would not consider short positions until I can spot a lower high below 125.000
Weekly Trend: Bullish
Daily Trend: Bullish
4hour Trend: Bullish
Trade scenario 1: We are looking strongly bullish here on UJ and price action has not shown signs of slowing down yet.
The likely scenario is that price action continues in this 4hour channel and moves higher. Be cautious entering long as we are over extended on the daily timeframe.
Trade scenario 2: For us to consider UJ bearish we would need to see a break of this bullish channel.
Look for a break below 125.700 first, we want to see price action test 125.000 as this is our key zone.
How price action reacts at 125.000 will determine where we look for trades next. I personally would not consider short positions until I can spot a lower high below 125.000
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.