EURJPY 30min Analysis February 1st, 2021
Price has retraced back to our key structure zone of 126.600 and is at the 30min 200MA.
Trade Scenario 1: Bullish - For us to go long we want to see price find support at our zone of 126.600. We will then wait for a break and retest of 126.700. Enter on strong bullish setups.
Trade Scenario 2: Bearish - For us to go short we need to see price break below the 30min 200MA. We will then wait for a retrace and for 126.600 to flip as resistance. Enter on strong bearish setups.
Trade Scenario 1: Bullish - For us to go long we want to see price find support at our zone of 126.600. We will then wait for a break and retest of 126.700. Enter on strong bullish setups.
Trade Scenario 2: Bearish - For us to go short we need to see price break below the 30min 200MA. We will then wait for a retrace and for 126.600 to flip as resistance. Enter on strong bearish setups.
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