EURJPY Long Idea
Weekly Trend: Bullish
Daily Trend: Bullish
4hour Trend: Bullish
Trade scenario 1: EJ has been very bullish on all timeframes and was actually a bit overextended on this 4hour timeframe. Thankfully we’re seeing a pullback where we will be looking for structure formation. Ideally, we want to see a strong reversal at our 38.2% fib level with strong bullish setups. Look to target higher on a bullish variation breaking the 132.750 level.
Trade scenario 2: For us to consider EJ bearish we first need to see a break of support at 132.420 with a confirmed lower high below. Look to target the bottom of the range then re-analyze as price action develops.
Weekly Trend: Bullish
Daily Trend: Bullish
4hour Trend: Bullish
Trade scenario 1: EJ has been very bullish on all timeframes and was actually a bit overextended on this 4hour timeframe. Thankfully we’re seeing a pullback where we will be looking for structure formation. Ideally, we want to see a strong reversal at our 38.2% fib level with strong bullish setups. Look to target higher on a bullish variation breaking the 132.750 level.
Trade scenario 2: For us to consider EJ bearish we first need to see a break of support at 132.420 with a confirmed lower high below. Look to target the bottom of the range then re-analyze as price action develops.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.