USDJPY Short Idea
Weekly Trend: Bullish
Daily Trend: Bearish
4hour Trend: Bearish
Trade scenario 1: Price action has been consolidating around 110.000 and it looks we could finally be seeing the break lower.
Look for price action to form a lower high with bearish setups for us to enter on. Look to target lower toward support around 109.150
Trade scenario 2: For us to consider UJ bullish we first need to see a large rally through 110.000. Because of the prior consolidation I would need to see a higher low closer to 110.250 before entering long.
Weekly Trend: Bullish
Daily Trend: Bearish
4hour Trend: Bearish
Trade scenario 1: Price action has been consolidating around 110.000 and it looks we could finally be seeing the break lower.
Look for price action to form a lower high with bearish setups for us to enter on. Look to target lower toward support around 109.150
Trade scenario 2: For us to consider UJ bullish we first need to see a large rally through 110.000. Because of the prior consolidation I would need to see a higher low closer to 110.250 before entering long.