EURJPY Bullish Idea
Weekly Trend: Bearish
Daily Trend: Bullish
4hour Trend: Bearish
Trade scenario 1: We are also overall bullish on EJ with new structure formation. Only issue is we can see what seems to be an expanding pattern meaning price action is stuck in high volume consolidation.
Ideally we want to wait for the pattern to break and in our favor of the trend. This means we will wait for a higher low to form above 132.700.
Trade scenario 2:. It is likely price action will continue in this pattern for a while so look for strong reversals off our 132.700 resistance.
Weekly Trend: Bearish
Daily Trend: Bullish
4hour Trend: Bearish
Trade scenario 1: We are also overall bullish on EJ with new structure formation. Only issue is we can see what seems to be an expanding pattern meaning price action is stuck in high volume consolidation.
Ideally we want to wait for the pattern to break and in our favor of the trend. This means we will wait for a higher low to form above 132.700.
Trade scenario 2:. It is likely price action will continue in this pattern for a while so look for strong reversals off our 132.700 resistance.