USDJPY Bearish Idea
Weekly Trend: Bullish
Daily Trend: Bullish
4hour Trend: Bearish
Trade scenario 1: Overall we have seen UJ be extremely bullish the last few months but now we’re seeing some 4hour bearishness with a ton of consolidation.
Ideally this descending triangle pattern holds and price action continues bearish again. Look for clear bearish conviction to enter short.
Trade scenario 2: For us to consider UJ bullish again we would first need to break some lower highs and start heading toward 150.000 resistance again.
Weekly Trend: Bullish
Daily Trend: Bullish
4hour Trend: Bearish
Trade scenario 1: Overall we have seen UJ be extremely bullish the last few months but now we’re seeing some 4hour bearishness with a ton of consolidation.
Ideally this descending triangle pattern holds and price action continues bearish again. Look for clear bearish conviction to enter short.
Trade scenario 2: For us to consider UJ bullish again we would first need to break some lower highs and start heading toward 150.000 resistance again.