USDJPY is trading within a narrow horizontal trading range on 4H.
108.35 is its support
109.3 is its resistance
From a current perspective there are two potential scenarios:
In case if the price breaks and closes below the underlined support cluster,
bearish continuation to lower structure levels will be expected.
In case if the price break above a resistance line of a falling wedge pattern,
I will expect a pullback at least to 108.85 level.
Wait for a trigger and adjust your trading plan accordingly.
I am still on a bullish side because in a long run the market trend is sharply bullish,
but who knows.
Note
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✅Join My Telegram Channel: t.me/VasilyTrading
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✅ Facebook: facebook.com/VasilyTrading/
⭐ My Forex & Gold Broker: bit.ly/vasilyforexbroker ⭐
❗️YouTube Channel youtube.com/c/VasilyTrader
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⭐ My Forex & Gold Broker: bit.ly/vasilyforexbroker ⭐
Related publications
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.