EURJPY Short Idea
Weekly Trend: Bullish
Daily Trend: Bearish
4hour Trend: Bearish
Trade scenario 1: We are definitely overall pretty bearish on EJ and the trend looks like it could continue this next week.
Ideally we see resistance and broken structure tested and rejected around 131.300 with strong bearish setups to follow. This will confirm the lower high, new structure and the continuation of the trend, target lower toward major support levels.
Trade scenario 2: For us to consider EJ bullish we need to see a major resistance level broken. Conservatively we will wait for price action to break 132.000 resistance and for higher lows to form above this level.
Weekly Trend: Bullish
Daily Trend: Bearish
4hour Trend: Bearish
Trade scenario 1: We are definitely overall pretty bearish on EJ and the trend looks like it could continue this next week.
Ideally we see resistance and broken structure tested and rejected around 131.300 with strong bearish setups to follow. This will confirm the lower high, new structure and the continuation of the trend, target lower toward major support levels.
Trade scenario 2: For us to consider EJ bullish we need to see a major resistance level broken. Conservatively we will wait for price action to break 132.000 resistance and for higher lows to form above this level.
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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.