USDJPY - Bulls Getting Baited?USD/JPYOANDA:USDJPYAlessioRODaily Chart The daily chart shows bullish swing structure and bullish fractal structure. Currently, price is stalling between a bullish FVG and bearish FVG, creating a small consolidation. Neither buyers nor sellers have shown strong directional intent — LTF confirmation is required for any long setup. Price has already reached the discounted zone of the fractal leg, but taking longs now would place entries above the 0.50 retracement, which is not ideal for me. If price breaks the bullish fractal structure, there is significant liquidity below — including lows, OBs, and multiple FVGs, which could be targeted next. The daily OB and BB have already been tested multiple times, making them less reliable as long setups at this stage. Additionally, we have two sets of EQH, which may attract price to sweep liquidity before a move lower. 4H Chart The 4H chart gives more clarity. Price continues to respect both daily FVGs, and the latest bullish reaction came from a 4H OB. Below that OB we still have: a small daily FVG (less relevant due to size) a 4H bullish FVG, which could act as support if revisited Based on current structure, I would only consider countertrend longs if the EQH are swept first — giving liquidity and momentum to the upside. At the moment: Longs are questionable due to heavy liquidity resting below Shorts are questionable due to the strong bullish swing structure The only long scenario I would consider is liquidate the 4H fractal break → immediate reaction from the 4H bullish FVG → target the EQH If this does not occur, I will remain patient on the daily chart and wait for more development.