THOUGHTS FOR THE USD/JPY
USD/JPY 4H - As you can see price has traded us lower the past 16 hours. I am wanting to see this continue, trading us down and into one of two Demand Zones below.
Once price has traded down and into one of two areas we want to see enough Demand being introduced to give us a flip in the current S&D balance. In order for us to have confirmation of this we want to see a break of structure to the upside.
Now this can be a fractal break in structure so we can go down on timeframes to witness this, but this will give us the confirmation we need in order to look to buy into this market longer term. I will then be looking at trading price up and into the Supply Zones above.
This is where I want to see the balance flip again but to the opposite side trading us lower in the market, this is because the overall bias for this market is actually a bearish and the prevailing trend suggests that.
Once price has traded down and into one of two areas we want to see enough Demand being introduced to give us a flip in the current S&D balance. In order for us to have confirmation of this we want to see a break of structure to the upside.
Now this can be a fractal break in structure so we can go down on timeframes to witness this, but this will give us the confirmation we need in order to look to buy into this market longer term. I will then be looking at trading price up and into the Supply Zones above.
This is where I want to see the balance flip again but to the opposite side trading us lower in the market, this is because the overall bias for this market is actually a bearish and the prevailing trend suggests that.
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