EURJPY Short Idea
Weekly Trend: Bullish
Daily Trend: Bullish
4hour Trend: Bearish
Trade scenario 1: Overall the higher timeframes are bullish but we have seen a fairly strong bearish trend on the 4hour.
Currently price action is resting at key support near 130.000 and how it reacts here will determine where we go next.
If the 4hour bearish trend continues, look to enter short once we can confirm a lower high below 130.000
Trade scenario 2: We could see a strong reversal at 130.000 support and we could enter long on a lower timeframe trend change but i recommend waiting until we can confirm 4hour bullish structure. (ie. break of structure/ higher lows above major levels)
Weekly Trend: Bullish
Daily Trend: Bullish
4hour Trend: Bearish
Trade scenario 1: Overall the higher timeframes are bullish but we have seen a fairly strong bearish trend on the 4hour.
Currently price action is resting at key support near 130.000 and how it reacts here will determine where we go next.
If the 4hour bearish trend continues, look to enter short once we can confirm a lower high below 130.000
Trade scenario 2: We could see a strong reversal at 130.000 support and we could enter long on a lower timeframe trend change but i recommend waiting until we can confirm 4hour bullish structure. (ie. break of structure/ higher lows above major levels)
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.