USDJPY Short Idea
Weekly Trend: Bearish
Daily Trend: Bearish
4hour Trend: Bearish
1Hour Trend: Bearish
Overall we are clearly bearish and will look for bearish opportunities specifically until we see a significant amount of bullish momentum
Trade scenario 1: Looking to continue with the overall bearish outlook. Ideally we want to see a lower high below 104.500 and the 4hour timeframe moving averages. Enter short on strong bearish setups and target lower toward significant support levels.
Trade scenario 2: If we are to consider going long we need to see a break of our 1hour resistance level at least. Look for a higher low above 104.650 with strong bullish setups and you can take a buy into our 4hour resistance level at 105.150
Weekly Trend: Bearish
Daily Trend: Bearish
4hour Trend: Bearish
1Hour Trend: Bearish
Overall we are clearly bearish and will look for bearish opportunities specifically until we see a significant amount of bullish momentum
Trade scenario 1: Looking to continue with the overall bearish outlook. Ideally we want to see a lower high below 104.500 and the 4hour timeframe moving averages. Enter short on strong bearish setups and target lower toward significant support levels.
Trade scenario 2: If we are to consider going long we need to see a break of our 1hour resistance level at least. Look for a higher low above 104.650 with strong bullish setups and you can take a buy into our 4hour resistance level at 105.150