AUDJPY 4hour Analysis December 5th, 2021
AUDJPY Bearish idea
Weekly Trend: Bearish
Daily Trend: Bearish
4Hour Trend: Bearish
Trade scenario 1: Looking very bearish here on AUDJPY as well. We ideally want to line up with the bearish trend for short opportunities but we can see we’re over extended.
We need to see our next lower high in order to continue shorting. Look for price action to reject our 80.400 resistance level.
Trade scenario 2: For us to consider AUDJPY bullish we would need to see a higher low above 81.500. That’s how over extended we are.
Weekly Trend: Bearish
Daily Trend: Bearish
4Hour Trend: Bearish
Trade scenario 1: Looking very bearish here on AUDJPY as well. We ideally want to line up with the bearish trend for short opportunities but we can see we’re over extended.
We need to see our next lower high in order to continue shorting. Look for price action to reject our 80.400 resistance level.
Trade scenario 2: For us to consider AUDJPY bullish we would need to see a higher low above 81.500. That’s how over extended we are.