AUDJPY Daily Analysis April 17th, 2022
AUDJPY Neutral idea
Weekly Trend: Bullish
Daily Trend: Bullish
4Hour Trend: Bullish
Trade scenario 1: Overall we are clearly very bullish on AUDJPY but we are also consolidating at an extreme high.
Price action is near resistance but we have not seen any structure in weeks. In other words, we are due for a pullback.
At the moment we can only wait so I have highlighted our next support level around 91.000 as this is the minimum I expect a pullback to.
Trade scenario 2: The unlikely scenario is that AUDJPY breaks resistance at 95.000 and keeps rallying.
Weekly Trend: Bullish
Daily Trend: Bullish
4Hour Trend: Bullish
Trade scenario 1: Overall we are clearly very bullish on AUDJPY but we are also consolidating at an extreme high.
Price action is near resistance but we have not seen any structure in weeks. In other words, we are due for a pullback.
At the moment we can only wait so I have highlighted our next support level around 91.000 as this is the minimum I expect a pullback to.
Trade scenario 2: The unlikely scenario is that AUDJPY breaks resistance at 95.000 and keeps rallying.
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