• Vasily Trader

USDJPY: Important Decision Ahead! Your Plan: (indecision)

USDJPY is approaching a year's high.

From a current perspective I see two potential scenarios:

1 - Bearish:

Because the underlined red structure is considered to be a key daily/weekly level,

a strong bearish swing may initiate from that.

To catch it, wait for a bearish breakout of a rising parallel channel .

It will be a trigger for a bearish continuation.

Next support will be 108.6

2 - Bullish:

The market is trading in a long-term bullish trend .

In case if the price breaks and closes above the underlined area,

we will expect a bullish continuation to the next pivot .

Next resistance will be 111.7

Wait for a trigger and then follow the plan.