USDJPY 4hour Analysis June 12th, 2022

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USDJPY Bullish Idea

Weekly Trend: Bullish
Daily Trend: Bullish
4hour Trend: Bullish

Trade scenario 1: UJ is extremely bullish and is currently resting at our 134.000 resistance zone.

We ideally want to see more normal structure before taking a trade but the likely scenario for this week is looking like price action will just continue bullish.

Trade scenario 2: For us to consider UJ bearish we would need to see a sharp reversal from 134.000 resistance with strong bearish setups to follow.

Look to target lower toward 131.000 support.

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