EURJPY Long Idea Weekly Trend: Bullish
Daily Trend: Bullish
4hour Trend: Bullish Trade scenario 1: Overall this pair has been very bullish on higher timeframes. We recently saw a large bullish leg breaking resistance at 126.500. Now we want to wait for a confirmed higher low near structure at our 38.2% fib level. Look to enter long on strong bullish setups and target higher toward key resistance and negative fib levels. Trade scenario 2: For us to consider short scenarios we ideally want to see a break and retest of support at 126.000. Look to target lower after a confirmed lower high and strong bearish setups.