My idea for USDJPY.
3 major areas to keep our eyes on are color coded in black. Price has broken above our major resistance level 123.624 and is currently in a range. If price manage to breakout of this range we can expect bulls to take price all the way to our next major resistance of 125.000 area. However bears manage to pull price back down below 123.624 we can begin to look a long term sells back 121 level. On the daily time frame price has closed above our major resistance area but shown strong rejection to the upside. If bears bring price back down this will invalidate 123.624 being broken. On the chart i have marked where a BOS should occur based on the 4HR time which would confirm bears taking control.
3 major areas to keep our eyes on are color coded in black. Price has broken above our major resistance level 123.624 and is currently in a range. If price manage to breakout of this range we can expect bulls to take price all the way to our next major resistance of 125.000 area. However bears manage to pull price back down below 123.624 we can begin to look a long term sells back 121 level. On the daily time frame price has closed above our major resistance area but shown strong rejection to the upside. If bears bring price back down this will invalidate 123.624 being broken. On the chart i have marked where a BOS should occur based on the 4HR time which would confirm bears taking control.