USDJPY 1hour Analysis January 6th, 2021
Price has rejected off our key weekly level at 103.370 and respecting the 1h 200MA. We are currently at a key structure zone and have two scenarios at play.
Trade Scenario 1: Bearish - For us to go short we want to see price break through our structure zone of 103.00. We will then wait for a retrace and for 103.00 to flip as resistance. Enter on strong bearish setups
Trade Scenario 2: Bullish - For us to go long we are looking for price to find support at our structure level at 103.00. Forming a bit of double bottom on our supporting trendline. Enter on strong bullish engulfing here. First targeting the 1h 200MA around 103.300
Trade Scenario 1: Bearish - For us to go short we want to see price break through our structure zone of 103.00. We will then wait for a retrace and for 103.00 to flip as resistance. Enter on strong bearish setups
Trade Scenario 2: Bullish - For us to go long we are looking for price to find support at our structure level at 103.00. Forming a bit of double bottom on our supporting trendline. Enter on strong bullish engulfing here. First targeting the 1h 200MA around 103.300
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.