EURJPY 30min Analysis January 5th, 2021
Price is very close to our current demand zone.
Trade Scenario 1: Bullish - For us to go long we want to see price form support at our demand zone around 126.050. We will wait for a strong bullish engulfing/variation to enter long.
Trade Scenario 2: Bearish - For us to go short we need to see price push to the downside with conviction. We will then wait for a retrace and for our current demand zone of 126.050 to flip as resistance.
Trade Scenario 1: Bullish - For us to go long we want to see price form support at our demand zone around 126.050. We will wait for a strong bullish engulfing/variation to enter long.
Trade Scenario 2: Bearish - For us to go short we need to see price push to the downside with conviction. We will then wait for a retrace and for our current demand zone of 126.050 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.