AUDJPY 30min Analysis February 4th, 2021
Price is consolidating around out key structure zone of 80.200 and falls on the neckline of the inverted H&S on the 4h timeframe
Trade Scenario 1: Bullish - For us to go long we need to see price continue to the upside. We will then wait for a retrace and for price to find support at 80.300. Enter on strong bullish setups.
Trade Scenario 2: Bearish - For us to go short we need to see price push below the 30min 200MA. We will then wait for a retrace and for a clear LH below 80.100.
Trade Scenario 1: Bullish - For us to go long we need to see price continue to the upside. We will then wait for a retrace and for price to find support at 80.300. Enter on strong bullish setups.
Trade Scenario 2: Bearish - For us to go short we need to see price push below the 30min 200MA. We will then wait for a retrace and for a clear LH below 80.100.
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