EURJPY Short Idea
Weekly Trend: Bearish
Daily Trend: Bearish
4hour Trend: Bearish
Trade scenario 1: EJ is looking very bearish and honestly because of the high volume and how price action is forming it’s making our options more risky. We want to continue with the trend so we want to try to enter on high probability trades only.
Either EJ will push lower now and could present a good short opportunity but confirmations will be limited. Or price action will pullback to resistance near our 38.2% fib level and present short opportunities after a confirmed lower high.
Trade scenario 2: For us to consider EJ bullish we ideally need to see price action break above 132.000 with a confirmed higher low.
Weekly Trend: Bearish
Daily Trend: Bearish
4hour Trend: Bearish
Trade scenario 1: EJ is looking very bearish and honestly because of the high volume and how price action is forming it’s making our options more risky. We want to continue with the trend so we want to try to enter on high probability trades only.
Either EJ will push lower now and could present a good short opportunity but confirmations will be limited. Or price action will pullback to resistance near our 38.2% fib level and present short opportunities after a confirmed lower high.
Trade scenario 2: For us to consider EJ bullish we ideally need to see price action break above 132.000 with a confirmed higher low.
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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.