USDJPY Short Idea
Weekly Trend: Bearish
Daily Trend: Bearish
4hour Trend: Bearish
1hour Trend: Bearish
Trade scenario 1: Price action continues bearish and forms a lower higher at current resistance. Look to enter short on strong bearish setups rejecting this level. Target lower toward our -27% fib level.
Trade scenario 2: For us to consider a long opportunity we need to see a major change of trend. Look to enter on a higher low above the 200ma at least followed by our 4hour resistance.
Weekly Trend: Bearish
Daily Trend: Bearish
4hour Trend: Bearish
1hour Trend: Bearish
Trade scenario 1: Price action continues bearish and forms a lower higher at current resistance. Look to enter short on strong bearish setups rejecting this level. Target lower toward our -27% fib level.
Trade scenario 2: For us to consider a long opportunity we need to see a major change of trend. Look to enter on a higher low above the 200ma at least followed by our 4hour resistance.