USDJPY 1hour Analysis November 30, 2020
Trade Scenario 1: Price is bearish across all time frames and is currently testing the 200MA as resistance on the 1h. Look to enter short on another strong rejection around this level. First targeting minor support level around 103.7
Trade Scenario 2: To consider long, we will need a break and retest of the 104.2 zone to create a new HL above the 1h 200MA. Enter on strong bullish momentum/variations. FIrst targeting a key weekly level around the 104.6 zone.
Trade Scenario 2: To consider long, we will need a break and retest of the 104.2 zone to create a new HL above the 1h 200MA. Enter on strong bullish momentum/variations. FIrst targeting a key weekly level around the 104.6 zone.