USDJPY Neutal Idea
Weekly Trend: Bullish
Daily Trend: Bullish
4hour Trend: Bullish
Trade scenario 1: We have been very bullish here on UJ and it is not showing signs of reversal yet although we are near a major supply zone around 125.000.
It would make a lot of sense if price action reverses here and we will be waiting for a break of the most recent lower high if it does.
Once we see that 4hour lower high we can consider short entries and target lower toward 121.250 support.
Trade scenario 2: If price action breaks through 125.000 resistance look for higher lows above as it is likely price action will rally into our -27% fib level around 128.000.
Weekly Trend: Bullish
Daily Trend: Bullish
4hour Trend: Bullish
Trade scenario 1: We have been very bullish here on UJ and it is not showing signs of reversal yet although we are near a major supply zone around 125.000.
It would make a lot of sense if price action reverses here and we will be waiting for a break of the most recent lower high if it does.
Once we see that 4hour lower high we can consider short entries and target lower toward 121.250 support.
Trade scenario 2: If price action breaks through 125.000 resistance look for higher lows above as it is likely price action will rally into our -27% fib level around 128.000.
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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.