• Vasily Trader

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.