USDJPY 30min Analysis February 22nd, 2021

Trade Scenario 1: Bullish - Price is currently at our key structure zone of 105.700. We want to see price break above our zone with conviction. We will then wait for a retrace and for 105.700 to act as support. We will look to enter on strong bullish setups off this level, first targeting 106.100.

Trade Scenario 2: Bearish - For us to go short we want to see price reject off the top of our zone at 105.700. We will look to enter on strong bearish setups, first targeting our weekly level at 105.400.