AUDJPY 30min Analysis January 26th, 2021
Price has broken above our resistance line and key structure zone of 80.250.
Trade Scenario 1: Bullish - For us to go long we are looking for either a double bottom off 80.250 or a quick break and retest of 80.350. Enter on strong bullish setups, first targeting our key weekly at 80.650
Trade Scenario 2: Bearish - For us to go short we want to see price break below our structure zone of 80.250. We will then wait for a retrace and for price to respect our resistance trendline once again.
Trade Scenario 1: Bullish - For us to go long we are looking for either a double bottom off 80.250 or a quick break and retest of 80.350. Enter on strong bullish setups, first targeting our key weekly at 80.650
Trade Scenario 2: Bearish - For us to go short we want to see price break below our structure zone of 80.250. We will then wait for a retrace and for price to respect our resistance trendline once again.
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