USDJPY Bullish Idea
Weekly Trend: Bullish
Daily Trend: Bearish
4hour Trend: Bullish
Trade scenario 1: The 4hour timeframe is newly bullish due to a large rally last week which broke our 110.000 & 110.300 resistance levels.
At the current level there is no trade so we will have to wait for our next higher low. Ideally, we see a pullback to 110.300 with a strong bullish reversal we can enter long on.
Trade scenario 2: For us to consider UJ bearish again we would need to see a break back below 110.000 with a lower high below.
Weekly Trend: Bullish
Daily Trend: Bearish
4hour Trend: Bullish
Trade scenario 1: The 4hour timeframe is newly bullish due to a large rally last week which broke our 110.000 & 110.300 resistance levels.
At the current level there is no trade so we will have to wait for our next higher low. Ideally, we see a pullback to 110.300 with a strong bullish reversal we can enter long on.
Trade scenario 2: For us to consider UJ bearish again we would need to see a break back below 110.000 with a lower high below.