AUDJPY Long idea
Weekly Trend: Bullish
Daily Trend: Bullish
4Hour Trend: Bearish
Trade scenario 1: AJ is bullish on all major time frames except the 4hour where we saw price action break a higher low. Now we’re looking for a reversal and established higher low near our 78.6% fib level around 79.600. Look to enter long and target higher toward key resistance levels.
Trade scenario 2: For us to consider short positions we need to see a break and retest of 79.600 with a confirmed lower high. Enter short and target major support levels.
Weekly Trend: Bullish
Daily Trend: Bullish
4Hour Trend: Bearish
Trade scenario 1: AJ is bullish on all major time frames except the 4hour where we saw price action break a higher low. Now we’re looking for a reversal and established higher low near our 78.6% fib level around 79.600. Look to enter long and target higher toward key resistance levels.
Trade scenario 2: For us to consider short positions we need to see a break and retest of 79.600 with a confirmed lower high. Enter short and target major support levels.
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