AUDJPY 4hour Analysis October 11th, 2020
AUDJPY Long idea
Weekly Trend: Bullish
Daily Trend: Bullish
4Hour Trend: Bullish
Trade scenario 1: Price action continues with this rally. We’re looking to enter long on a confirmed higher low above the 76.000 leve. To confirm the continuation we need some strong bullish setups and a clean break of our monthly resistance level would add confidence to a larger push.
Trade scenario 2: Price action rejects the monthly resistance zone and begins pushing lower. Look to enter short on a confirmed lower high below 76.000. Target the bottom of the range.
Weekly Trend: Bullish
Daily Trend: Bullish
4Hour Trend: Bullish
Trade scenario 1: Price action continues with this rally. We’re looking to enter long on a confirmed higher low above the 76.000 leve. To confirm the continuation we need some strong bullish setups and a clean break of our monthly resistance level would add confidence to a larger push.
Trade scenario 2: Price action rejects the monthly resistance zone and begins pushing lower. Look to enter short on a confirmed lower high below 76.000. Target the bottom of the range.