EURJPY 30min Analysis January 19th, 2021
Price is in between two key weekly levels and could begin to range. We are going to wait for a break out of this zone before entering a trade.
Trade Scenario 1: Bullish - For us to go long we want to see price break above our key weekly level at 126.235. We will then wait for a retrace and for our weekly level to act as support. Enter on strong bullish setups
Trade Scenario 2: Bearish - For us to go short we want to see price break below our key weekly level at 125.780. We will then wait for a retrace and for our weekly level to act as resistance. Enter on strong bearish setups.
Trade Scenario 1: Bullish - For us to go long we want to see price break above our key weekly level at 126.235. We will then wait for a retrace and for our weekly level to act as support. Enter on strong bullish setups
Trade Scenario 2: Bearish - For us to go short we want to see price break below our key weekly level at 125.780. We will then wait for a retrace and for our weekly level to act 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.