USDJPY: Important Decision Ahead! Your Plan: 🇺🇸🇯🇵

17 giu 2021

USDJPY is approaching a year's high.

From a current perspective I see two potential scenarios:

• 1 - Bearish:
  Because the underlined red structure is considered to be a key daily/weekly level,
  a strong bearish swing may initiate from that.
  To catch it, wait for a bearish breakout of a rising parallel channel.
  It will be a trigger for a bearish continuation.
  
  Next support will be 108.6
  
  
• 2 - Bullish:
  The market is trading in a long-term bullish trend.
  In case if the price breaks and closes above the underlined area,
  we will expect a bullish continuation to the next pivot.
  
  Next resistance will be 111.7
  

Wait for a trigger and then follow the plan.

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