EURJPY 4hour Analysis January 22nd, 2023
EURJPY Bearish Idea
Weekly Trend: Bullish
Daily Trend: Bearish
4hour Trend: Bearish
Trade scenario 1: Looking bearish on EJ with some dramatic swings in both directions as of recent.
Going into this week we want the bearish trend to continue but we need to see more clear price action. Ideally, price action slows down and shows us clear rejection from 140.750. A little bit of consolidation would do us good at this moment.
If this happens we can consider shorts down to 138.000 support.
Trade scenario 2: If we want to consider long scenarios we need to see price action push through 140.750 resistance and start forming structure above.
Weekly Trend: Bullish
Daily Trend: Bearish
4hour Trend: Bearish
Trade scenario 1: Looking bearish on EJ with some dramatic swings in both directions as of recent.
Going into this week we want the bearish trend to continue but we need to see more clear price action. Ideally, price action slows down and shows us clear rejection from 140.750. A little bit of consolidation would do us good at this moment.
If this happens we can consider shorts down to 138.000 support.
Trade scenario 2: If we want to consider long scenarios we need to see price action push through 140.750 resistance and start forming structure above.
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