EURJPY 1hour Analysis January 6th, 2021

Price is currently at our supply zone. For us to go long we can wait for two scenarios. First, we can wait for a retrace back to the .382 fib level and key structure zone of 126.800. We will then look for bullish setups there. Second, we can wait for price to break out above our supply zone of 127.200. We will then wait for a retrace and for 127.200 to flip as support. Enter on strong bullish setups.