EURJPY 4hour Analysis 5/24/20
EURJPY Long Idea
Higher timeframes on this pair are primarily bearish, however, we are seeing a strong 4hour bullish trend emerge after breaking key resistance.
Currently we have seen price action retrace to the 61.8% fib level and looks to be getting ready for a bounce.
The blue arrow represents the most likely trade path considering we see more bullish setups from at the current level. Look to target higher toward the -61.8% fib level
The orange arrows is the trade path that would need to take place for us to start considering short opportunities.
Higher timeframes on this pair are primarily bearish, however, we are seeing a strong 4hour bullish trend emerge after breaking key resistance.
Currently we have seen price action retrace to the 61.8% fib level and looks to be getting ready for a bounce.
The blue arrow represents the most likely trade path considering we see more bullish setups from at the current level. Look to target higher toward the -61.8% fib level
The orange arrows is the trade path that would need to take place for us to start considering short opportunities.
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