EURJPY recently showed a strong bullish rally off a key 1H Order Block (OB) near 171.200. This rally swept sell-side liquidity before shifting short-term structure.
However, current price action shows signs of weakness — multiple rejection wicks near 172.350 and a potential shift in momentum.
The corrective structure forming suggests the bullish move may have been a liquidity run. A clean lower high may confirm bearish intent.
As long as price remains below the recent swing high, we anticipate a short-term retracement toward the OB zone (171.200), which aligns with an area of unfilled orders and possible rebalancing.
However, current price action shows signs of weakness — multiple rejection wicks near 172.350 and a potential shift in momentum.
The corrective structure forming suggests the bullish move may have been a liquidity run. A clean lower high may confirm bearish intent.
As long as price remains below the recent swing high, we anticipate a short-term retracement toward the OB zone (171.200), which aligns with an area of unfilled orders and possible rebalancing.
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Related publications
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.