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Audjpyidea

AUD/JPY - 200EMA + Support Bounce Confluence Hello Traders!, Hope we've had a good start to the week! On to our mid-week analysis I've come across some AUD strength on 4H & D1 timeframe, so I've been searching for a set-up on the 1H timeframe and see confluence on the AUDJPY pair What Is The Market Telling Us? Market is showing bullish sentiment after 2nd rejection off 74.50 support level 50SMA shows bullish correction phase could be ending as it is sloping downwards (bullish signal) Price has repsected 200EMA as it has aligned with 74.50 support and shown strong rejection to the upside D1 Timeframe shows a clear break & retest of this 74.50 support, indicating further bullish momentum When Should We Enter? I'm anticipating some consolidation as the AUD is weak on smaller timeframes such as 1H & lower Waiting on a potential double bottom to form or a breakout of my consolidation area before looking for BUYS Look for BUYS once there is a confirmed double bottom or confirmation of a breakout of the consoldiation area
Long
by AI_Expert_Advisor
AUDJPY *Analysis Update*1. Price to form a Daily bearish variation and pullback from current area 2. Price to find support at a previously broken Resistance or Previous support that lines up with 61.8 fib & near Monthly key level 3. Price to form a Daily Bullish Variation What I'm looking for on H1/M30 TF: 1. Price to break uptrend structure 2. Bearish structure until Price reaches previous Daily LH zone or Daily Support zone at 61.8 3. Break of bearish Structure, Retest with a Bullish Engulfing
Short
by Richie242