Possible AUDJPY long opportunity
WEEKLY:
- On our weekly timeframe we can see that the AUDJPY market structure is bullish. We are still between the indicated higher low and higher high.
- We can see that price has broken through strong resistance. Here we now expect to see a weekly wick pullback on then possible bullish momentum.
- We can also see that we have responded nicely to our 'fib golden zone' on the weekly timeframe. Which means we can possibly expect even more volume to the upside.
DAILY:
- On our Daily timeframe we are also still bullish.
- We can also see that we have broken through a strong resistance level. This is a level that has been respected in the past.
- If we take our fib from the body low to the wick high we can see that our s/r zone is aligned with our 0.618 fib level.
4H:
- On the 4H timeframe we see that we are also still bullish. We have not created a new structure point so if we pull back to our Aoi we will still remain bullish (unless a new structure point is formed).
- If we take our fib from the body low to the wick high we can also see that this fib levels match our aoi
- An additional point that we can note is that we have an IC just above our aoi, which could also attract prices. (IC = Institutional Candle => works like a magnet)
- On our weekly timeframe we can see that the AUDJPY market structure is bullish. We are still between the indicated higher low and higher high.
- We can see that price has broken through strong resistance. Here we now expect to see a weekly wick pullback on then possible bullish momentum.
- We can also see that we have responded nicely to our 'fib golden zone' on the weekly timeframe. Which means we can possibly expect even more volume to the upside.
DAILY:
- On our Daily timeframe we are also still bullish.
- We can also see that we have broken through a strong resistance level. This is a level that has been respected in the past.
- If we take our fib from the body low to the wick high we can see that our s/r zone is aligned with our 0.618 fib level.
4H:
- On the 4H timeframe we see that we are also still bullish. We have not created a new structure point so if we pull back to our Aoi we will still remain bullish (unless a new structure point is formed).
- If we take our fib from the body low to the wick high we can also see that this fib levels match our aoi
- An additional point that we can note is that we have an IC just above our aoi, which could also attract prices. (IC = Institutional Candle => works like a magnet)
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