USDJPY 30min Analysis February 10th, 2021

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Price is currently consolidating around our key weekly zone of 104.600.

Trade Scenario 1: Bullish - For us to go long we need to see price break above our weekly zone. We will then wait for a retrace and for 104.600 to act as support. Enter on strong bullish setups.

Trade Scenario 2: Bearish - For us to go short we need to se price break below 104.500. We will then wait for a retrace and for 104.500 to flip as resistance. Enter on strong bearish setups, first targeting the next weekly level at 104.200.

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