USD/JPY - Resistance reached. What's next?
In the 4 hours chart, we can see that USD/JPY has reached a resistence level that has been rejected.
There are two possible scenarios:
First: The market will build a support structure at one of support levels and retest strong resistence with a possible breakout.
Than, establishment of a new strong support zone and continued upward movement.
Second: The market will not be able to stop the bearish movement at one of the support levels and will make a deeper rejection until a strong support zone is reached.
If you like such ideas, please leave a like and follow this channel so you don't miss another analysis.
This is NOT a FINANCIAL ADVICE. This is just my point of view on the current situation.
There are two possible scenarios:
First: The market will build a support structure at one of support levels and retest strong resistence with a possible breakout.
Than, establishment of a new strong support zone and continued upward movement.
Second: The market will not be able to stop the bearish movement at one of the support levels and will make a deeper rejection until a strong support zone is reached.
If you like such ideas, please leave a like and follow this channel so you don't miss another analysis.
This is NOT a FINANCIAL ADVICE. This is just my point of view on the current situation.
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