EURJPY Long Idea
Weekly Trend: Bullish
Daily Trend: Bullish
4hour Trend: Bullish
Trade scenario 1: Still very much bullish on all relevant timeframes. We recently saw a break of resistance at 126.500 but price action failed to confirm a higher low. Ideally we want to see a higher low above 126.500 before we enter long and target negative fib levels.
Trade scenario 2: For us to consider short positions we need to see a lower high formed below support at 126.000. Target lower toward significant support levels.
Weekly Trend: Bullish
Daily Trend: Bullish
4hour Trend: Bullish
Trade scenario 1: Still very much bullish on all relevant timeframes. We recently saw a break of resistance at 126.500 but price action failed to confirm a higher low. Ideally we want to see a higher low above 126.500 before we enter long and target negative fib levels.
Trade scenario 2: For us to consider short positions we need to see a lower high formed below support at 126.000. Target lower toward significant support levels.
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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.