U.S. Dollar / Japanese YenUpdated USDJPY Multi TF Analysis, 29th June 2021
USDJPY Idea
Daily Trend: Bullish
4hour Trend: Bullish
Trade scenario 1: UJ is in an uptrend in 4H timeframe, we could see it through the trendline holding the bullish trend. Everytime price touch the trendline, it reject and make HL
But, in Daily UJ is in a key level Resistance which if it couldn't break, it could potentially forming a big double top. But if it break the resistance, UJ will continue pushing higher
Trade scenario 2: To consider bearish in UJ, we would like to see break of the trendline which also break the last Low and forming new LL, then a retest/LH for us to put a short position
Daily Trend: Bullish
4hour Trend: Bullish
Trade scenario 1: UJ is in an uptrend in 4H timeframe, we could see it through the trendline holding the bullish trend. Everytime price touch the trendline, it reject and make HL
But, in Daily UJ is in a key level Resistance which if it couldn't break, it could potentially forming a big double top. But if it break the resistance, UJ will continue pushing higher
Trade scenario 2: To consider bearish in UJ, we would like to see break of the trendline which also break the last Low and forming new LL, then a retest/LH for us to put a short position
Note
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