EURJPY Bearish Idea
Weekly Trend: Bullish
Daily Trend: Bullish
4hour Trend: Bearish
Trade scenario 1: We have been very bullish on EJ but as of lately we are seeing a 4hour bearish trend.
Going into this week we’re looking for the classic break and retest. Price action is currently resting at our 146.250 zone and we’re waiting for reactions.
If we are to continue bearish, look for rejection that confirms this lower high and target lower toward 144.000
Trade scenario 2: If we are to look for bullish setups we would need EJ to break back above 146.250 and form a convincing higher low.
Weekly Trend: Bullish
Daily Trend: Bullish
4hour Trend: Bearish
Trade scenario 1: We have been very bullish on EJ but as of lately we are seeing a 4hour bearish trend.
Going into this week we’re looking for the classic break and retest. Price action is currently resting at our 146.250 zone and we’re waiting for reactions.
If we are to continue bearish, look for rejection that confirms this lower high and target lower toward 144.000
Trade scenario 2: If we are to look for bullish setups we would need EJ to break back above 146.250 and form a convincing higher low.