EURJPY is showing signs of a potential bullish reversal around a well-defined demand zone. This level has previously acted as strong support, making it a key area to watch. While the current market structure remains bearish, with a series of lower highs and lower lows, the projected scenario suggests a possible liquidity sweep below recent lows before a rebound toward 159.000.The main risk lies in the possibility of fakeouts or deeper liquidity grabs before a sustained move higher. Monitoring price reactions at the demand zone and using lower timeframes for confirmation could help refine entry points. How do you see this setup playing out?
Just my take on support and resistance zones—not financial advice. Always confirm your setups and trade with solid risk management,
Best of luck
Trade active
Trade closed: target reached
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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.