USDJPY Short Idea
Weekly Trend: Bearish
Daily Trend: Bearish
4hour Trend: Bearish
Trade scenario 1: All significant timeframes on UJ are now bearish after a break of 108.400 and now we’re going to favor a continuation at the current level of price action. Ideally, we get a retest of 108.400 with a strong reversal confirming a lower high. Look to enter short on strong bearish setups and target lower toward key support near 107.000
Trade scenario 2: For us to consider UJ bullish we need to see a break back above 108.400 with a higher low to confirm. Enter long on bullish setups/confirmation and target higher toward resistance.
Weekly Trend: Bearish
Daily Trend: Bearish
4hour Trend: Bearish
Trade scenario 1: All significant timeframes on UJ are now bearish after a break of 108.400 and now we’re going to favor a continuation at the current level of price action. Ideally, we get a retest of 108.400 with a strong reversal confirming a lower high. Look to enter short on strong bearish setups and target lower toward key support near 107.000
Trade scenario 2: For us to consider UJ bullish we need to see a break back above 108.400 with a higher low to confirm. Enter long on bullish setups/confirmation and target higher toward resistance.
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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.