USDJPY Bearish Idea
Weekly Trend: Bullish
Daily Trend: Bullish
4hour Trend: Bearish
Trade scenario 1: On the higher time frames UJ is still very bullish while the 4hour is newly bearish.
We saw this 4hour trend change once the support of the prior range near 129.600 was broken. From here we’re looking for lower highs and structure to continue bearish for confident short positions.
Trade scenario 2: For us to consider UJ bullish again we ideally need to see a break back into the range. Look for higher lows above the range for confident long positions.
Weekly Trend: Bullish
Daily Trend: Bullish
4hour Trend: Bearish
Trade scenario 1: On the higher time frames UJ is still very bullish while the 4hour is newly bearish.
We saw this 4hour trend change once the support of the prior range near 129.600 was broken. From here we’re looking for lower highs and structure to continue bearish for confident short positions.
Trade scenario 2: For us to consider UJ bullish again we ideally need to see a break back into the range. Look for higher lows above the range for confident long positions.
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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.