AUDJPY 4hour Analysis April, 25th, 2021
AUDJPY Long idea
Weekly Trend: Bullish
Daily Trend: Bullish
4Hour Trend: Bearish
Trade scenario 1: Overall we are bullish on AJ but we can clearly see that price action is stuck within a range. Ideally, we continue with the bullish trend and catch a long opportunity off a strong bullish reversal at the current level. Look to enter long on a 30min/1hr break of structure with aligning confirmations and target toward resistance at 84.400. If you’re going to play for the break of the range wait for a transition of 84.400.
Trade scenario 2: For us to consider AJ fully bearish we need to see a lower high below support at 83.300 with a confirmed lower high. Target lower toward support at 82.200.
Weekly Trend: Bullish
Daily Trend: Bullish
4Hour Trend: Bearish
Trade scenario 1: Overall we are bullish on AJ but we can clearly see that price action is stuck within a range. Ideally, we continue with the bullish trend and catch a long opportunity off a strong bullish reversal at the current level. Look to enter long on a 30min/1hr break of structure with aligning confirmations and target toward resistance at 84.400. If you’re going to play for the break of the range wait for a transition of 84.400.
Trade scenario 2: For us to consider AJ fully bearish we need to see a lower high below support at 83.300 with a confirmed lower high. Target lower toward support at 82.200.
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