USDJPY - Daily
The daily still shows quite bullish structure along with the 4hr. We saw a double top at 4hr resistance then price pushed down to 4hr support.
We are currently in the range of the 4hr S/R after the 1hour bounced off 4hr support with a morning star.
I see the recently swing down as a retracement of the overall trend but this will depend around 112.750 since we could make a lower high
and start to trend down. As of right now, I have confluences for this pair to move to the upside. If we close 112.750 I'll be looking for confluences on the smaller timeframes to take a buy.
We are currently in the range of the 4hr S/R after the 1hour bounced off 4hr support with a morning star.
I see the recently swing down as a retracement of the overall trend but this will depend around 112.750 since we could make a lower high
and start to trend down. As of right now, I have confluences for this pair to move to the upside. If we close 112.750 I'll be looking for confluences on the smaller timeframes to take a buy.
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