EURJPY Neutral Idea
Weekly Trend: Bullish
Daily Trend: Bullish
4hour Trend: Bullish
Trade scenario 1: We are looking extremely bullish as well as over extended here on EJ. When we see this much volume and lack of structure it makes it difficult to find a trade opportunity. We essentially need to wait for the market to resume normal movement.
Ideally, we can see some consolidation followed by a structure forming higher low before continuing with the trend.
Trade scenario 2: Price action could also pullback quite a bit due to the previous volume. Look for price action to fall back below 131.450 and form a lower high below.
Weekly Trend: Bullish
Daily Trend: Bullish
4hour Trend: Bullish
Trade scenario 1: We are looking extremely bullish as well as over extended here on EJ. When we see this much volume and lack of structure it makes it difficult to find a trade opportunity. We essentially need to wait for the market to resume normal movement.
Ideally, we can see some consolidation followed by a structure forming higher low before continuing with the trend.
Trade scenario 2: Price action could also pullback quite a bit due to the previous volume. Look for price action to fall back below 131.450 and form a lower high below.