USDJPY Trade Idea

١٠ يناير ٢٠٢١

In the recent analysis, i discussed about the potential short-term bullish reversal of UJ due to the current over-extended condition with a probe setup at 103.000 key support zone, which was exactly what the market performed. As the initial target (103.700) has been met, will be extending our targets to 104.700 & 105.600. To validate the short-term long setup, 103.700 support zone must hold, we still require more confirmation & bullish momentum to confirms a long-term reversal. if we notice bearish pressure tomorrow with downwards rotation violating 103.700 zone, we could expect bearish continuation with 103.000 as target. However, do not forget the overall trend on the higher timeframe remains bearish.

Will keep it updated tomorrow during the Asia session. Trade safe.

Do follow my profile for daily fx forecast & educational content.

١٠ يناير ٢٠٢١

ملاحظة

Previous analysis