AUDJPY 30min Analysis January 11th, 2021
Price is currently at our key structure zone of 80.200.
Trade Scenario 1: Bullish - For us to go long we are looking for price to find further bullish support at our structure zone of 80.200. We will look to enter on strong bullish engulfing/variations off our structure zone.
Trade Scenario 2: Bearish - For us to go short we need to see price break down through 80.200. We will then wait for a retrace and for 80.200 to flip as resistance. Enter on strong bearish setups at or below 80.200
Trade Scenario 1: Bullish - For us to go long we are looking for price to find further bullish support at our structure zone of 80.200. We will look to enter on strong bullish engulfing/variations off our structure zone.
Trade Scenario 2: Bearish - For us to go short we need to see price break down through 80.200. We will then wait for a retrace and for 80.200 to flip as resistance. Enter on strong bearish setups at or below 80.200
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