EURJPY 30min Analysis February 24th, 2021
Price is in a strong bullish trend but is coming up on a key weekly level where we are anticipating some rejection/consolidation.
Trade Scenario 1: Bearish - For us to go short we want to see a strong rejection off our key weekly at 129.00. We can enter on the first bearish setup or wait for some consolidation and a double top to form before going short. First targeting 128.700
Trade Scenario 2: Bullish - For us to go long we need to see price break above our key weekly level of 129.00. We will then wait for a retrace and for 129.00 to act as support.
Trade Scenario 1: Bearish - For us to go short we want to see a strong rejection off our key weekly at 129.00. We can enter on the first bearish setup or wait for some consolidation and a double top to form before going short. First targeting 128.700
Trade Scenario 2: Bullish - For us to go long we need to see price break above our key weekly level of 129.00. We will then wait for a retrace and for 129.00 to act as support.
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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.