USDJPY 30min Analysis February 10th, 2021
Price is currently consolidating around our key weekly zone of 104.600.
Trade Scenario 1: Bullish - For us to go long we need to see price break above our weekly zone. We will then wait for a retrace and for 104.600 to act as support. Enter on strong bullish setups.
Trade Scenario 2: Bearish - For us to go short we need to se price break below 104.500. We will then wait for a retrace and for 104.500 to flip as resistance. Enter on strong bearish setups, first targeting the next weekly level at 104.200.
Trade Scenario 1: Bullish - For us to go long we need to see price break above our weekly zone. We will then wait for a retrace and for 104.600 to act as support. Enter on strong bullish setups.
Trade Scenario 2: Bearish - For us to go short we need to se price break below 104.500. We will then wait for a retrace and for 104.500 to flip as resistance. Enter on strong bearish setups, first targeting the next weekly level at 104.200.
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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.