USDJPY Bullish Idea
Weekly Trend: Bullish
Daily Trend: Bullish
4hour Trend: Bullish
Trade scenario 1: We are still unbelievably bullish on UJ but price action does seem to be slowing down since we hit 145.000.
The most likely scenario is price action continuing bullish and rallying back into 145.000. Look for a break above 145.000 to continue higher.
Trade scenario 2: For us to look at UJ more bearish we would need to see the rejection from 145.000 follow through.
This would mean price action breaks lower now and starts forming lower highs. Look to target lower toward 140.000.
Weekly Trend: Bullish
Daily Trend: Bullish
4hour Trend: Bullish
Trade scenario 1: We are still unbelievably bullish on UJ but price action does seem to be slowing down since we hit 145.000.
The most likely scenario is price action continuing bullish and rallying back into 145.000. Look for a break above 145.000 to continue higher.
Trade scenario 2: For us to look at UJ more bearish we would need to see the rejection from 145.000 follow through.
This would mean price action breaks lower now and starts forming lower highs. Look to target lower toward 140.000.
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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.