USDJPY 30min Analysis March 11th, 2021
Trade Scenario 1: Bullish - For us to go long we want to see price break above 108.600. We will then wait for a retrace and for 108.600 to act as support. Enter on strong bullish setups, first targeting previous highs around 108.900.
Trade Scenario 2: Bearish - For us to go short we need to see price break below our support zone of 108.350. We will then wait for a retrace and for 108.350 to flip as resistance, first targeting 108.100.
Trade Scenario 2: Bearish - For us to go short we need to see price break below our support zone of 108.350. We will then wait for a retrace and for 108.350 to flip as resistance, first targeting 108.100.