EURJPY Short Idea
Weekly Trend: Bullish
Daily Trend: Bearish
4hour Trend: Bearish
Trade scenario 1: EJ is looking very bearish after recently completing a pullback and lower high formation.
We saw rejection of the weekly level at 132.750, rejection of the 200ema, moving average cross, lower high formation and strong bearish setups with an engulfing through major support at 132.000. This is everything we want to see before entering a trade.
From here I would either enter a short position now or wait for a lower high below 132.000 then target lower toward major support levels.
Trade scenario 2: For us to consider EJ bullish we would need to see a break of resistance at 132.750 with a higher low above.
Weekly Trend: Bullish
Daily Trend: Bearish
4hour Trend: Bearish
Trade scenario 1: EJ is looking very bearish after recently completing a pullback and lower high formation.
We saw rejection of the weekly level at 132.750, rejection of the 200ema, moving average cross, lower high formation and strong bearish setups with an engulfing through major support at 132.000. This is everything we want to see before entering a trade.
From here I would either enter a short position now or wait for a lower high below 132.000 then target lower toward major support levels.
Trade scenario 2: For us to consider EJ bullish we would need to see a break of resistance at 132.750 with a higher low above.
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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.