EURJPY Bearish Idea
Weekly Trend: Bullish
Daily Trend: Bearish
4hour Trend: Bullish
Trade scenario 1: Looking newly bullish but we still have to get through key resistance at 145.000 to confirm the new 4hour trend.
Going into this week we want to look for reactions from 145.000 as it is the zone that is holding the daily trend. If we break above, look for a higher low to enter long on.
Trade scenario 2: If we reject from 145.000 resistance we may be looking at a reversal back down to 143.000. At the moment this looks like the most likely.
Weekly Trend: Bullish
Daily Trend: Bearish
4hour Trend: Bullish
Trade scenario 1: Looking newly bullish but we still have to get through key resistance at 145.000 to confirm the new 4hour trend.
Going into this week we want to look for reactions from 145.000 as it is the zone that is holding the daily trend. If we break above, look for a higher low to enter long on.
Trade scenario 2: If we reject from 145.000 resistance we may be looking at a reversal back down to 143.000. At the moment this looks like the most likely.