EURJPY 30min Analysis January 25th, 2021
Price is in between our two key weekly levels and could range here for a bit of time. We will wait for a break out in either direction before entering a position.
Trade Scenario 1: Bullish - For us to go long we need to see price break above our key weekly level at 126.230. We will then wait for a retrace and for price to find support at our weekly zone. Enter on strong bullish setups off the weekly zone.
Trade Scenario 2: Bearish - For us to go short we need to see price break below our key weekly level at 125.780. We will then wait for a retrace and for price to reject off our weekly zone. Enter on strong bearish setups.
Trade Scenario 1: Bullish - For us to go long we need to see price break above our key weekly level at 126.230. We will then wait for a retrace and for price to find support at our weekly zone. Enter on strong bullish setups off the weekly zone.
Trade Scenario 2: Bearish - For us to go short we need to see price break below our key weekly level at 125.780. We will then wait for a retrace and for price to reject off our weekly zone. Enter on strong bearish setups.
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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.