USDJPY Trade Idea

25 בינו׳ 2021

In Friday's (22th Jan) analysis, I expected UJ to bounce within the current exhaustion pattern (Flag) and potentially re-test the top band, which was exactly what the market performed. The current market condition of UJ is quite corrective. Currently will remain neutral bias, an upwards breakout of the exhaustion pattern could send UJ to potentially re-test 104.27 & 104.70 resistance zones. However, if we notice some bearish rotation of UJ violating 103.700 support zone, that could send UJ back towards the bottom band of the pattern or 103.000 key support zone. Do not forget the overall trend on the higher timeframe remains bearish.

Trade safe.

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25 בינו׳ 2021

הערה

Friday's (22th Jan) analysis