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Thursday, February 11, 2021

USDJPY 30min Analysis February 11th, 2021

USDJPY 30min Analysis February 11th, 2021

USD/JPY OANDA:USDJPY

Price continues to consolidate around our weekly zone and is forming a bullish structure.

Trade Scenario 1: Bullish - For us to go long we need to see price break above 104.800. We can aggressively enter on the breakout or be patient and wait for a retest of 104.800 to flip as support.

Trade Scenario 2: Bearish - For us to go short we need to see price break below our weekly zone of 104.550. We will then wait for a retrace and for 104.550 to flip as resistance.



from Trading Ideas https://ift.tt/3aVWFMV
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