EURJPY recently showed a strong bullish rally off a key 1H Order Block (OB) near 171.200. This rally swept sell-side liquidity before shifting short-term structure.
However, current price action shows signs of weakness — multiple rejection wicks near 172.350 and a potential shift in momentum.
The corrective structure forming suggests the bullish move may have been a liquidity run. A clean lower high may confirm bearish intent.
As long as price remains below the recent swing high, we anticipate a short-term retracement toward the OB zone (171.200), which aligns with an area of unfilled orders and possible rebalancing.
However, current price action shows signs of weakness — multiple rejection wicks near 172.350 and a potential shift in momentum.
The corrective structure forming suggests the bullish move may have been a liquidity run. A clean lower high may confirm bearish intent.
As long as price remains below the recent swing high, we anticipate a short-term retracement toward the OB zone (171.200), which aligns with an area of unfilled orders and possible rebalancing.
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