EURJPY Bearish Idea
Weekly Trend: Bullish
Daily Trend: Bearish
4hour Trend: Bearish
Trade scenario 1: We are looking bearish overall but we still need to see a few things before we can confirm more downside movement.
Ideally price action continues bearish and proves so by breaking 143.000 support. Look for a confirmed lower high below to enter short.
Trade scenario 2: If we are to see EJ as bullish again we would need to see quite a bit happen. We would need to first break the descending channel and 145.000 resistance.
If we spot structure above we are confidently bullish on this timeframe.
Weekly Trend: Bullish
Daily Trend: Bearish
4hour Trend: Bearish
Trade scenario 1: We are looking bearish overall but we still need to see a few things before we can confirm more downside movement.
Ideally price action continues bearish and proves so by breaking 143.000 support. Look for a confirmed lower high below to enter short.
Trade scenario 2: If we are to see EJ as bullish again we would need to see quite a bit happen. We would need to first break the descending channel and 145.000 resistance.
If we spot structure above we are confidently bullish on this timeframe.
