USDJPY Neutral Idea
Weekly Trend: Bullish
Daily Trend: Bullish
4hour Trend: Bullish
Trade scenario 1: No surprise that UJ is looking extremely bullish again this week.
We’re far from an entry any way you cut it but ideally price action rejects at current resistance (149.000) and starts heading lower to form structure.
If we see price action move similarly to the blue trade scenario then we will have a great entry opportunity. Anything else I'm not currently interested in.
Trade scenario 2: The other likely scenario is that UJ does not reject at resistance but instead breaks above our 149.000 zone.
We will have to re-analyze and come up with new scenarios if that happens.
Weekly Trend: Bullish
Daily Trend: Bullish
4hour Trend: Bullish
Trade scenario 1: No surprise that UJ is looking extremely bullish again this week.
We’re far from an entry any way you cut it but ideally price action rejects at current resistance (149.000) and starts heading lower to form structure.
If we see price action move similarly to the blue trade scenario then we will have a great entry opportunity. Anything else I'm not currently interested in.
Trade scenario 2: The other likely scenario is that UJ does not reject at resistance but instead breaks above our 149.000 zone.
We will have to re-analyze and come up with new scenarios if that happens.
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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.