USDJPY 4hour Analysis February 14th, 2022
USDJPY Bullish Idea
Weekly Trend: Bullish
Daily Trend: Bullish
4hour Trend: Bullish
Trade scenario 1: We are looking very bullish here on UJ and we are forming good structure & a bullish channel. The most likely scenario is that price action will continue bullish so look for a break of resistance around 116.250 with a confirmed higher low above.
Trade scenario 2: The other likely scenario is that price action will react near 116.250 resistance and send price action lower.
Look to target our support level near 115.000
Weekly Trend: Bullish
Daily Trend: Bullish
4hour Trend: Bullish
Trade scenario 1: We are looking very bullish here on UJ and we are forming good structure & a bullish channel. The most likely scenario is that price action will continue bullish so look for a break of resistance around 116.250 with a confirmed higher low above.
Trade scenario 2: The other likely scenario is that price action will react near 116.250 resistance and send price action lower.
Look to target our support level near 115.000
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