EURJPY 30min Analysis January 27th, 2021
Price is at our key structure zone and key weekly after finding strong support off our supporting trendline.
Trade Scenario 1: Bullish - For us to go long we need to see price break above our key weekly level of 126.234. We will then wait for a retrace and for price to find support at or above the key weekly. Enter on strong bullish setups.
Trade Scenario 2: Bearish - For us to go short we are looking for price to reject off our structure zone of 126.200 to form a double top. We will look to enter on strong bearish setups/engulfings.
Trade Scenario 1: Bullish - For us to go long we need to see price break above our key weekly level of 126.234. We will then wait for a retrace and for price to find support at or above the key weekly. Enter on strong bullish setups.
Trade Scenario 2: Bearish - For us to go short we are looking for price to reject off our structure zone of 126.200 to form a double top. We will look to enter on strong bearish setups/engulfings.
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