EURJPY Bullish Idea
Weekly Trend: Bearish
Daily Trend: Bearish
4hour Trend: Bullish
Trade scenario 1: Over extended seems to be the theme of the week and EJ is no different. The good thing here is that we appear to be finding resistance near 132.700, our new high.
From here we’re looking for structure forming pullbacks. Ideally we can spot a reversal near support around 131.300 where we can spot some potential long entries.
Trade scenario 2: For us to truly be bearish on EJ we would need to see an absolute break of support around 130.000 because price action can fall to 130.000, reverse and still be overall bullish.
Weekly Trend: Bearish
Daily Trend: Bearish
4hour Trend: Bullish
Trade scenario 1: Over extended seems to be the theme of the week and EJ is no different. The good thing here is that we appear to be finding resistance near 132.700, our new high.
From here we’re looking for structure forming pullbacks. Ideally we can spot a reversal near support around 131.300 where we can spot some potential long entries.
Trade scenario 2: For us to truly be bearish on EJ we would need to see an absolute break of support around 130.000 because price action can fall to 130.000, reverse and still be overall bullish.