EURJPY 30min Analysis February 11th, 2021
Price has been in a strong bullish trend but is currently at our key supply zone of 127.100.
Trade Scenario 1: Bullish - For us to go long we need to see price break above 127.100 with conviction. We will then wait for a retrace and for 127.100 to flip as support. Enter on strong bullish setups.
Trade Scenario 2: Bearish - For us to go short we need to see reject off our supply zone once again. We will enter on strong bearish setups off 127.100. First targeting previous lows of 126.700.
Trade Scenario 1: Bullish - For us to go long we need to see price break above 127.100 with conviction. We will then wait for a retrace and for 127.100 to flip as support. Enter on strong bullish setups.
Trade Scenario 2: Bearish - For us to go short we need to see reject off our supply zone once again. We will enter on strong bearish setups off 127.100. First targeting previous lows of 126.700.
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