USDJPY Trade Idea
UJ has been in a strong short-term uptrend. In today's trading session, I remain neutral bias and pay attention to the 109.80 key resistance zone. Two scenarios that I am looking at
1. If price pullbacks to re-test the 109.20 support zone, that gives us a potential retracement entry with 109.80 resistance zone as the initial target (Bullish)
2. If we notice a double top pattern rejecting the 109.80 resistance zone, be aware of some short-term reversal back towards the 108.40 support zone (Bearish)
Trade safe and be flexible.
Do follow my profile for daily fx forecast & educational content.
1. If price pullbacks to re-test the 109.20 support zone, that gives us a potential retracement entry with 109.80 resistance zone as the initial target (Bullish)
2. If we notice a double top pattern rejecting the 109.80 resistance zone, be aware of some short-term reversal back towards the 108.40 support zone (Bearish)
Trade safe and be flexible.
Do follow my profile for daily fx forecast & educational content.
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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.