USDJPY 4Hour Analysis August 15th, 2021
USDJPY Short Idea
Weekly Trend: Bullish
Daily Trend: Bearish
4hour Trend: Bearish
Trade scenario 1: Back to bearish! So we’ve recently seen a large amount of volume enter the market here on UJ. We’re looking for that volume to continue once we’ve confirmed where price action will be moving.
Ideally price action retests 110.000, confirms the lower high then drops toward new support.
Trade scenario 2: If price action breaks resistance at 110.000 and forms a higher low above we’ll consider looking for long opportunities.
Weekly Trend: Bullish
Daily Trend: Bearish
4hour Trend: Bearish
Trade scenario 1: Back to bearish! So we’ve recently seen a large amount of volume enter the market here on UJ. We’re looking for that volume to continue once we’ve confirmed where price action will be moving.
Ideally price action retests 110.000, confirms the lower high then drops toward new support.
Trade scenario 2: If price action breaks resistance at 110.000 and forms a higher low above we’ll consider looking for long opportunities.
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