USDJPY Bearish Idea
Weekly Trend: Bullish
Daily Trend: Bullish
4hour Trend: Bearish
Trade scenario 1: Price action is looking newly bearish here on UJ and is currently resting at support near 115.000.
The most likely scenario is that we will see support break with price action forming a lower high below. Look to target lower toward key support levels.
Trade scenario 2: For us to consider UJ bullish again we ideally want to see a break of a prior lower high so for us that means we need to see a higher low above 115.350.
Weekly Trend: Bullish
Daily Trend: Bullish
4hour Trend: Bearish
Trade scenario 1: Price action is looking newly bearish here on UJ and is currently resting at support near 115.000.
The most likely scenario is that we will see support break with price action forming a lower high below. Look to target lower toward key support levels.
Trade scenario 2: For us to consider UJ bullish again we ideally want to see a break of a prior lower high so for us that means we need to see a higher low above 115.350.