EURJPY Daily Analysis August 30th, 2020
EURJPY Long Idea
Overall we are very bullish on all significant timeframes and are looking to continue with this trend.
From the current level of price action we can see two potential long opportunities:
1.We see strong bullish setups off the lower timeframe support that pice action is currently at. Target higher toward significant resistance.
2.Price action pulls back to key support at 124.000 which is in line with our 38.2% fib level. Look to enter on strong bullish setups and target higher toward key resistance.
For us to consider short opportunities we need to see a break and retest of key support near 124.000.
Overall we are very bullish on all significant timeframes and are looking to continue with this trend.
From the current level of price action we can see two potential long opportunities:
1.We see strong bullish setups off the lower timeframe support that pice action is currently at. Target higher toward significant resistance.
2.Price action pulls back to key support at 124.000 which is in line with our 38.2% fib level. Look to enter on strong bullish setups and target higher toward key resistance.
For us to consider short opportunities we need to see a break and retest of key support near 124.000.
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