EURJPY 30min Analysis January 11th, 2021
Price is at our key structure level finding support and we are looking for price to break out of the current downward trend.
Trade Scenario 1: Bullish - For us to go long we need to see price break above 126.800. We will then look for a retrace and for price to find support at 126.800. Enter on strong bullish setups
Trade Scenario 2: Bearish - For us to look short we need to see price break below 126.550 with conviction. We will then wait for a retrace and for 126.550 to flip as resistance. Enter on strong bearish setups.
Trade Scenario 1: Bullish - For us to go long we need to see price break above 126.800. We will then look for a retrace and for price to find support at 126.800. Enter on strong bullish setups
Trade Scenario 2: Bearish - For us to look short we need to see price break below 126.550 with conviction. We will then wait for a retrace and for 126.550 to flip as resistance. Enter on strong bearish setups.
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