USDJPY 30min analysis April 8th, 2021

Trade Scenario 1: Bearish - For us to go short we want to see price break below 109.200. We will then wait for a retrace and for 109.200 to act as resistance. Enter on strong bearish setups, first targeting our edge of value around 109.000.

Trade Scenario 2: Bullish - For us to go long we want to see price break above our edge of value at 109.400. We will then wait for a retrace and for 109.400 to act as support. Enter on strong bullish setups, first targeting 109.600.