AUDJPY 4hour Analysis April, 18th, 2021
AUDJPY Neutral idea
Weekly Trend: Bullish
Daily Trend: Bullish
4Hour Trend: Bullish
Trade scenario 1: Overall we are bullish but we are currently in a large range between 84.400 & 83.300. Ideally, we want to see the bullish trend continue and break through resistance. Look to enter on a higher low above 84.400 and target higher toward our 0% fib level.
Trade scenario 2: If price action reverses here we could see the range continue and price action could fall to support at 83.300. There is a short position here if we see the proper confirmation and bearish setups. But for us to consider AJ overall bearish we really need to see this range break and price action needs to get below our weekly zone.
Weekly Trend: Bullish
Daily Trend: Bullish
4Hour Trend: Bullish
Trade scenario 1: Overall we are bullish but we are currently in a large range between 84.400 & 83.300. Ideally, we want to see the bullish trend continue and break through resistance. Look to enter on a higher low above 84.400 and target higher toward our 0% fib level.
Trade scenario 2: If price action reverses here we could see the range continue and price action could fall to support at 83.300. There is a short position here if we see the proper confirmation and bearish setups. But for us to consider AJ overall bearish we really need to see this range break and price action needs to get below our weekly zone.