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USDJPY Daily Analysis October 24th, 2021

Long
FX:USDJPY   Dollar Américain / Yen japonais
USDJPY Bullish Idea

Weekly Trend: Bullish
Daily Trend: Bullish
4hour Trend: Bullish

Trade scenario 1: Finally UJ retraced after a very extended rally. From here we’re looking for a reversal near our 38.2% fib level. Look to enter long on bullish setups confirming structure.

Trade scenario 2: If we see a break of our weekly near 113.000 we will consider entering short on lower highs below 113.000. Look to target lower toward support around 111.500.

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