EURJPY Long Idea
Weekly Trend: Bullish
Daily Trend: Bullish
4hour Trend: Bullish
Trade scenario 1: EJ is still very bullish on all relevant timeframes. Price action currently is at a fairly large supply zone around 127.400 but we will remain with the overall bullish trend until we see otherwise. Ideally we want to see a higher low form within this pattern and present a long opportunity. We will look to target the supply zone and will look to continue to manage above this zone if price action breaks above.
Trade scenario 2: For us to consider EJ bearish we need to see a lower high form below 127.000 and present strong bearish setups. Look to enter on a confirmed lower high and target lower toward key support.
Weekly Trend: Bullish
Daily Trend: Bullish
4hour Trend: Bullish
Trade scenario 1: EJ is still very bullish on all relevant timeframes. Price action currently is at a fairly large supply zone around 127.400 but we will remain with the overall bullish trend until we see otherwise. Ideally we want to see a higher low form within this pattern and present a long opportunity. We will look to target the supply zone and will look to continue to manage above this zone if price action breaks above.
Trade scenario 2: For us to consider EJ bearish we need to see a lower high form below 127.000 and present strong bearish setups. Look to enter on a confirmed lower high and target lower toward key 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.