USDJPY 4Hour Analysis July 26th, 2020
USDJPY Short Idea
This pair is looking bearish on higher time frames but also is significantly bearish on this 4hour timeframe.
Looking for opportunities with this bearish trend we will have to wait for the right entry. Ideally we would like to see a retracement to a key fib level followed by bearish setups. This would confirm structure & a lowerhigh. Target lower toward significant support (The blue trade path)
If price action does push higher we would need to see a break of at least the 106.700 zone and a confirmed higher lower before considering long opportunities. (The orange trade path)
This pair is looking bearish on higher time frames but also is significantly bearish on this 4hour timeframe.
Looking for opportunities with this bearish trend we will have to wait for the right entry. Ideally we would like to see a retracement to a key fib level followed by bearish setups. This would confirm structure & a lowerhigh. Target lower toward significant support (The blue trade path)
If price action does push higher we would need to see a break of at least the 106.700 zone and a confirmed higher lower before considering long opportunities. (The orange trade path)
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