USDJPY 30min Analysis March 16th, 2021

Trade Scenario 1: Bullish - For us to go long we need to see price break above 109.05. We will then wait for a retrace and for 109.05 to act as support. Enter on strong bullish setups, first targeting previous highs around 109.250.

Trade Scenario 2: Bearish - For us to go short we need to see price break below 108.950. We will then wait for a retrace and for 108.950 to flip as resistance. Enter on strong bearish setups, first targeting 108.700.