EURJPY LONG IDEA

June price action has printed new highs and has now exhausted back to retest the previous high as support. We can clearly identify here the beginning of a small trend change from bearish to bullish. Current confluences reinforcing a long bias are the new high higher high, bullish trend change, potential inverted head and shoulders pattern, support rejected, Daily time frame bullish engulfing candle / morning star followed by a weekly time frame low test. A valid exhaustion back into the proposed new higher low level will create the long zone.