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Tuesday, February 09, 2021

USDJPY 30min Analysis February 9th, 2021

USDJPY 30min Analysis February 9th, 2021

USD/JPY OANDA:USDJPY

Price is consolidating at our key structure zone and weekly level.

Trade Scenario 1: Bullish - For us to go long we need to see price break above 104.700. We will then wait for a retrace and for 104.700 to act as support. Enter on strong bullish setups.

Trade Scenario 2: Bearish - For us to go short we need to see price break below 104.500. We will then wait for a quick retrace and for 104.500 to act as resistance. Enter on strong bearish setups, first targeting the next key weekly around 104.200



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