EURJPY 30min Analysis February 2nd, 2021
Price is in a strong downward channel but is finding support at our key weekly level.
Trade Scenario 1: Bullish - For us to go long we need to see price break above our structure zone of 126.600. We will then wait for a retrace and for price to find support around 126.600. Enter on strong bullish setups.
Trade Scenario 2: Bearish - For us to go short we need to see price break below our key weekly zone of 126.200. We will then wait for a retrace and for our key weekly to flip as resistance.
Trade Scenario 1: Bullish - For us to go long we need to see price break above our structure zone of 126.600. We will then wait for a retrace and for price to find support around 126.600. Enter on strong bullish setups.
Trade Scenario 2: Bearish - For us to go short we need to see price break below our key weekly zone of 126.200. We will then wait for a retrace and for our key weekly to flip as resistance.
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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.