EURJPY Long Idea
Weekly Trend: Bullish
Daily Trend: Bullish
4hour Trend: Bullish
Trade scenario 1: Price action has been extremely bullish and recently broke our weekly resistance at 127.400. From the current level we’re seeing structure form at our 38.2% fib level and testing new support. Ideally we want to see a strong bullish variation here to enter long on. Target higher toward our negative fib levels.
Trade scenario 2: For us to consider EJ bearish again we need to see a lower high below 127.400 with strong bearish setups. Look to target lower toward monthly support at 126.500
Weekly Trend: Bullish
Daily Trend: Bullish
4hour Trend: Bullish
Trade scenario 1: Price action has been extremely bullish and recently broke our weekly resistance at 127.400. From the current level we’re seeing structure form at our 38.2% fib level and testing new support. Ideally we want to see a strong bullish variation here to enter long on. Target higher toward our negative fib levels.
Trade scenario 2: For us to consider EJ bearish again we need to see a lower high below 127.400 with strong bearish setups. Look to target lower toward monthly support at 126.500
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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.