EURJPY Long Idea
Weekly Trend: Bullish
Daily Trend: Bullish
4hour Trend: Bullish
Trade scenario 1: Overall we are bullish on EJ but we can clearly see that we are stuck in a range. I am favoring a bullish breakout here because this heavy consolidation is occurring at a high and also at key resistance. Wait for a break above resistance at 130.600 with a higher low to confirm. Target higher toward our -27% fib level.
Trade scenario 2: For us to comfortably short EJ we need this range to break bearish. Enter short on a lower high below 130.000 and target key levels of support.
Weekly Trend: Bullish
Daily Trend: Bullish
4hour Trend: Bullish
Trade scenario 1: Overall we are bullish on EJ but we can clearly see that we are stuck in a range. I am favoring a bullish breakout here because this heavy consolidation is occurring at a high and also at key resistance. Wait for a break above resistance at 130.600 with a higher low to confirm. Target higher toward our -27% fib level.
Trade scenario 2: For us to comfortably short EJ we need this range to break bearish. Enter short on a lower high below 130.000 and target key levels of support.
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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.