USDJPY 30min Analysis February 24th, 2021
We have a nice doublet bottom at our structure zone of 105.800. We are looking to continue the bullish trend into our next key weekly level.
Trade Scenario 1: Bullish - For us to go long we are looking for a quick break and retest of 105.975. We will look to enter on strong bullish setups at this level, first targeting the next key weekly at 106.170
Trade Scenario 2: Bearish - For us to go short we can aggressively enter on a double top at 106.00 or we wait for a strong bearish push below 105.800. We will then wait for a retrace and for 105.800 to flip as resistance.
Trade Scenario 1: Bullish - For us to go long we are looking for a quick break and retest of 105.975. We will look to enter on strong bullish setups at this level, first targeting the next key weekly at 106.170
Trade Scenario 2: Bearish - For us to go short we can aggressively enter on a double top at 106.00 or we wait for a strong bearish push below 105.800. We will then wait for a retrace and for 105.800 to flip as resistance.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.