EURJPY Short Idea
Higher timeframes are significantly bearish while the daily and 4hour are more bullish, however, we may be seeing a confirmed 4hour bearish transition this week.
Currently looking at short opportunities as we saw a break of our ascending channel. Wait for the confirmed retest with bearish setups then look to target lower toward major support around 119.500 (The blue trade path)
For us to consider long opportunities we want to see a break to the upside. Look for a break and retest of 121.250 with strong bullish setups. Target higher toward major resistance like 122.000 (The orange trade path)
Higher timeframes are significantly bearish while the daily and 4hour are more bullish, however, we may be seeing a confirmed 4hour bearish transition this week.
Currently looking at short opportunities as we saw a break of our ascending channel. Wait for the confirmed retest with bearish setups then look to target lower toward major support around 119.500 (The blue trade path)
For us to consider long opportunities we want to see a break to the upside. Look for a break and retest of 121.250 with strong bullish setups. Target higher toward major resistance like 122.000 (The orange trade path)