USDJPY 4Hour Analysis August 22nd, 2021
USDJPY Short Idea
Weekly Trend: Bullish
Daily Trend: Bearish
4hour Trend: Bearish
Trade scenario 1: Looking overall bearish but we have a large volume pattern so we’re ideally looking for the pattern to continue forming with price action falling to a new low.
We’re looking for price action confirmation after this current lower timeframe support level is broken. Look to target lower toward 109.150.
Trade scenario 2: For us to consider UJ bullish we need a strong higher low above 110.000.
Weekly Trend: Bullish
Daily Trend: Bearish
4hour Trend: Bearish
Trade scenario 1: Looking overall bearish but we have a large volume pattern so we’re ideally looking for the pattern to continue forming with price action falling to a new low.
We’re looking for price action confirmation after this current lower timeframe support level is broken. Look to target lower toward 109.150.
Trade scenario 2: For us to consider UJ bullish we need a strong higher low above 110.000.
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