THOUGHTS ON USD/JPY
USD/JPY 4H - With this market I am expecting some bearish structure as I want price to put in a deeper correction to the downside before taking us higher in the market.
Before price does that I am expecting an initial correction to the upside fractally in order for price to grab more Supply allowing price to continue lower performing this deeper correction.
Once price trades us higher up and into the Supply Zone above I will be waiting for relevant pieces of confirmation in order to enter short in this market, I will ride price down and into the Demand zone below.
Once price trades us down and into the Demand zone I will look to close my short positions and I will prepare to go long in this market with it being a predominately bullish market on the higher timeframe structure, this giving us a clear longer term bias.
Before price does that I am expecting an initial correction to the upside fractally in order for price to grab more Supply allowing price to continue lower performing this deeper correction.
Once price trades us higher up and into the Supply Zone above I will be waiting for relevant pieces of confirmation in order to enter short in this market, I will ride price down and into the Demand zone below.
Once price trades us down and into the Demand zone I will look to close my short positions and I will prepare to go long in this market with it being a predominately bullish market on the higher timeframe structure, this giving us a clear longer term bias.
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