EURJPY Neutral Idea
Weekly Trend: Bullish
Daily Trend: Bullish
4hour Trend: Bearish
Trade scenario 1: Overall EJ on the higher timeframes is bullish. On the 4hour timeframe we have been in a steady bearish trend and price action is now correcting. Currently, the level price action is at (129.400) is the deciding zone. If we reverse at this level we will be confirming a lower high in a bearish trend and will look to target lower into major support levels.
Trade scenario 2: If price action breaks resistance at 129.400 look for a higher lower to confirm a transition of trend and overall bullish continuation.
Weekly Trend: Bullish
Daily Trend: Bullish
4hour Trend: Bearish
Trade scenario 1: Overall EJ on the higher timeframes is bullish. On the 4hour timeframe we have been in a steady bearish trend and price action is now correcting. Currently, the level price action is at (129.400) is the deciding zone. If we reverse at this level we will be confirming a lower high in a bearish trend and will look to target lower into major support levels.
Trade scenario 2: If price action breaks resistance at 129.400 look for a higher lower to confirm a transition of trend and overall bullish continuation.
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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.
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.