USDJPY 4Hour Analysis August 1st, 2021
USDJPY Neutral Idea
Weekly Trend: Bullish
Daily Trend: Bearish
4hour Trend: Bearish
Trade scenario 1: Overall definitely bearish here on UJ. It looks like it could continue bearish but I doubt this momentum will sustain. I think it is more likely we will see UJ reverse at support and start to consolidate.
Trade scenario 2: For us to consider UJ confirmed bearish we would ideally need to see a break below support here at 109.150 with a lower high below.
With a lower high below that level we can comfortably take short positions and target toward new support levels.
Weekly Trend: Bullish
Daily Trend: Bearish
4hour Trend: Bearish
Trade scenario 1: Overall definitely bearish here on UJ. It looks like it could continue bearish but I doubt this momentum will sustain. I think it is more likely we will see UJ reverse at support and start to consolidate.
Trade scenario 2: For us to consider UJ confirmed bearish we would ideally need to see a break below support here at 109.150 with a lower high below.
With a lower high below that level we can comfortably take short positions and target toward new support levels.
Feragatname
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