AUDJPY 30min Analysis January 13th, 2021
Price has been in a consolidation pattern forming around the 30min 200MA for the past few days. We are currently waiting for a breakout of this pattern.
Trade Scenario 1: Bullish - For us to go long we want to see price break above 80.600. We will then wait for a retrace and for our current structure zone above 80.550 to flip as support. Enter on strong bullish setups
Trade Scenario 2: Bearish - For us to go short we need to see price break below 80.300. We will then wait for a retrace and for 80.300 to flip as resistance. Entering on strong bearish setups
Trade Scenario 1: Bullish - For us to go long we want to see price break above 80.600. We will then wait for a retrace and for our current structure zone above 80.550 to flip as support. Enter on strong bullish setups
Trade Scenario 2: Bearish - For us to go short we need to see price break below 80.300. We will then wait for a retrace and for 80.300 to flip as resistance. Entering on strong bearish setups
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