USDJPY 1hour Analysis January 6th, 2021
Price has rejected off our key weekly level at 103.370 and respecting the 1h 200MA. We are currently at a key structure zone and have two scenarios at play.
Trade Scenario 1: Bearish - For us to go short we want to see price break through our structure zone of 103.00. We will then wait for a retrace and for 103.00 to flip as resistance. Enter on strong bearish setups
Trade Scenario 2: Bullish - For us to go long we are looking for price to find support at our structure level at 103.00. Forming a bit of double bottom on our supporting trendline. Enter on strong bullish engulfing here. First targeting the 1h 200MA around 103.300
Trade Scenario 1: Bearish - For us to go short we want to see price break through our structure zone of 103.00. We will then wait for a retrace and for 103.00 to flip as resistance. Enter on strong bearish setups
Trade Scenario 2: Bullish - For us to go long we are looking for price to find support at our structure level at 103.00. Forming a bit of double bottom on our supporting trendline. Enter on strong bullish engulfing here. First targeting the 1h 200MA around 103.300
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.