EURJPY 1hour Analysis December 15th, 2020
Price has been consolidating around our weekly level of 126.23 and the 1hour and 30min 200MA have started to flatline.
Trade Scenario 1: Bullish - We are looking for price to find support at our demand zone once again. Enter on bullish engulfing/variations. First targeting our weekly level and 1hour 200MA at 126.23
Trade Scenario 2: Bearish - We need to see price break through support level of 125.80 with strong bearish momentum. We will then look for a retrace and 125.80 to flip as resistance.
Trade Scenario 1: Bullish - We are looking for price to find support at our demand zone once again. Enter on bullish engulfing/variations. First targeting our weekly level and 1hour 200MA at 126.23
Trade Scenario 2: Bearish - We need to see price break through support level of 125.80 with strong bearish momentum. We will then look for a retrace and 125.80 to flip as resistance.