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USDJPY: Scenarios & Trading Opportunities



hey traders,


A local decisional moment for USDJPY:

the price is retesting a resistance line of a horizontal trading range.


From a current perspective there are two potential scenarios:


Bullish - in case of a bullish breakout of resistance of a range

I will expect bullish trend continuation to 109.8


Bearish - on hourly chart the market is slowing down.

After a strong growth from range's support, the market looks exhausted at the moment.

To catch a pullback from the underlined resistance, wait and sell bearish breakout of a rising parallel channel .

Goal - 109. 05


Wait for a breakout & follow the market.

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