USDJPY 4hour Analysis January 22nd, 2023

USDJPY Bearish Idea

Weekly Trend: Bearish
Daily Trend: Bearish
4hour Trend: Bearish

Trade scenario 1: Clearly we are bearish overall and in a healthy trend.

Going into this week we’re looking for the trend to continue bearish. Ideally, we can spot clear rejection from our 131.000 area and enter short.

Trade scenario 2: If we are to consider a bullish scenario we would first need to see a break of 131.000 resistance and form structure above.