EURJPY Long Idea
Weekly Trend: Bullish
Daily Trend: Bullish
4hour Trend: Bullish
Trade scenario 1: Overall this pair is extremely bullish and has not yet formed structure. Ideally we want to see a pullback to form structure at either the 38.2% or 61.8% fib level. If we see a strong reversal from either level look to enter long and target back toward our 0% fib level and potentially higher toward our negative fib levels.
Trade scenario 2: If price action is to go bearish we need to see a break of our major support level at 124.800 with a confirmed higher low below.
Weekly Trend: Bullish
Daily Trend: Bullish
4hour Trend: Bullish
Trade scenario 1: Overall this pair is extremely bullish and has not yet formed structure. Ideally we want to see a pullback to form structure at either the 38.2% or 61.8% fib level. If we see a strong reversal from either level look to enter long and target back toward our 0% fib level and potentially higher toward our negative fib levels.
Trade scenario 2: If price action is to go bearish we need to see a break of our major support level at 124.800 with a confirmed higher low below.
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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.