EURJPY 30min Analysis January 25th, 2021

Price is in between our two key weekly levels and could range here for a bit of time. We will wait for a break out in either direction before entering a position.

Trade Scenario 1: Bullish - For us to go long we need to see price break above our key weekly level at 126.230. We will then wait for a retrace and for price to find support at our weekly zone. Enter on strong bullish setups off the weekly zone.

Trade Scenario 2: Bearish - For us to go short we need to see price break below our key weekly level at 125.780. We will then wait for a retrace and for price to reject off our weekly zone. Enter on strong bearish setups.