As we can see on the 4H time frame we have had previous Higher highs and Higher lows. We are now waiting for a break above our Daily Resistance level at 106.800 and also a strong previous Supply zone at 106.650. We will be aware that price could in fact reject the Supply zone and break below trend towards 107.350 which we would look to enter upon a break of previous lows.
Just my analysis :) Trade with your own techniques.
USD/JPY did in fact break our uptrend and also reject our Supply zone at 106.650 and we are currently travelling below previous lower highs and our Demand zone.
I will be waiting for a rebound back upwards from our current demand zone we are in or a break below to the lower one shown on the graph above.
yep i see this as something correct and good analysis, i personally see a break out just like the pound did yest. but thats why I am short hahahaha good luck with this trade