EURJPY 1hour Analysis November 30, 2020

Trade Scenario 1: Price continues bullish trend. We can see and inverted H&S on the 4h. The neckline is at a key weekly level that has acted as strong resistance and we closed with a strong Daily bearish candle. We will need to see price break above this weekly zone/neckline with conviction before longing. Wait for the break then retest and enter on strong bullish setups.

Trade Scenario 2: Price action goes bearish. Ideally we would like to see at least a strong break below 124.3 and then price form a clear LH. Then re-analyze based on bearish setups.