USDJPY: Important Decision Ahead 🇺🇸🇯🇵

20 May 2022

Hey traders,

As I predicted, USDJPY dropped nicely.
Now the price is approaching strong daily structure support.

From such a perspective, I see two potential scenarios:

Bearish
If the price breaks the underlined yellow support to the downside and closes below that on a daily,
then a further decline will be expected to 125.25 level.

Bullish
On an hourly time frame, we can see a local bearish trend.
Lower highs are respecting a falling trend line.
If the price breaks that to the upside I will expect a bullish move to a daily falling trend line.

Wait for a reaction and only then follow the market.

What do you expect?

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