EURJPY 30min Analysis February 1st, 2021
Price has retraced back to our key structure zone of 126.600 and is at the 30min 200MA.
Trade Scenario 1: Bullish - For us to go long we want to see price find support at our zone of 126.600. We will then wait for a break and retest of 126.700. Enter on strong bullish setups.
Trade Scenario 2: Bearish - For us to go short we need to see price break below the 30min 200MA. We will then wait for a retrace and for 126.600 to flip as resistance. Enter on strong bearish setups.
Trade Scenario 1: Bullish - For us to go long we want to see price find support at our zone of 126.600. We will then wait for a break and retest of 126.700. Enter on strong bullish setups.
Trade Scenario 2: Bearish - For us to go short we need to see price break below the 30min 200MA. We will then wait for a retrace and for 126.600 to flip as resistance. 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.