AUDJPY 4Hour TF - June 17th, 2024
Monthly - Bullish
Weekly - Bullish
Daily - Bullish
4Hour - Ranging
Scenario 1: We can see a clear range that price action is stuck in on the 4hr but overall all other TF trends are strongly bullish. We are looking for a break above the range with supporting structure. If bullish conviction is spotted and we can confirm a higher low above the range it's likely we will see a bullish AJ for the week.
Scenario 2: A bearish break is possible too, just less likely. If we see a break below 103.500 we need to confirm it with a lower high. Expect AJ for be bearish for the week ahead if that happens.
Weekly - Bullish
Daily - Bullish
4Hour - Ranging
Scenario 1: We can see a clear range that price action is stuck in on the 4hr but overall all other TF trends are strongly bullish. We are looking for a break above the range with supporting structure. If bullish conviction is spotted and we can confirm a higher low above the range it's likely we will see a bullish AJ for the week.
Scenario 2: A bearish break is possible too, just less likely. If we see a break below 103.500 we need to confirm it with a lower high. Expect AJ for be bearish for the week ahead if that happens.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.