EURJPY Neutral Idea
Weekly Trend: Bullish
Daily Trend: Bullish
4hour Trend: Bearish
Trade scenario 1: We are still technically bearish on the 4hour while the higher timeframes remain bullish.
The most likely scenario given price action formation is that we will see a break of support near 130.000 with a lower high below. If this happens look to enter short and target lower toward key support levels.
Trade scenario 2: For us to consider EJ bullish we would need to see a massive reversal off 130.000 support with structure forming higher lows to enter long on.
Weekly Trend: Bullish
Daily Trend: Bullish
4hour Trend: Bearish
Trade scenario 1: We are still technically bearish on the 4hour while the higher timeframes remain bullish.
The most likely scenario given price action formation is that we will see a break of support near 130.000 with a lower high below. If this happens look to enter short and target lower toward key support levels.
Trade scenario 2: For us to consider EJ bullish we would need to see a massive reversal off 130.000 support with structure forming higher lows to enter long on.