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USDJPY 4hour Analysis August 7th, 2022

Long
FX:USDJPY   U.S. Dollar / Japanese Yen
USDJPY Bullish Idea

Weekly Trend: Bullish
Daily Trend: Bullish
4hour Trend: Bullish

Trade scenario 1: We are back to bullish on all timeframes for UJ. Last week we saw the 4hour transition back to bullish after rejecting our 133.000 zone.

Going into this week we’re looking for a significant higher low to enter long on.

Trade scenario 2: For us to consider UJ bearish again we first would need to see a break below 133.000 with structure below.

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