USD/JPY Price Analysis: Bulls and bears battle it out at key hourly territory By fx_ross USDJPY Technical Analysis
The bears need a break of the hourly structure but the bulls remain in control.
There are two areas of hourly price imbalances above and below the current market and it is a question of which area will be mitigated first. In a bullish scenario, the price could move lower to collect liquidity from the imbalance of price to fill buy orders leading to a subsequent rally and potential upside continuation. In a bearish scenario, the price could move higher to fill the sell orders which could lead to a surge lower for a test of support.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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