AUDJPY 4hour Analysis May 1st, 2022
AUDJPY Bearish idea
Weekly Trend: Bullish
Daily Trend: Bullish
4Hour Trend: Bearish
Trade scenario 1: The higher timeframes are mainly bullish but it is clear to see that we are overextended.
We even can see monthly wicks and weekly rejection so a reversal may be imminent!
On the 4hour we are strongly bearish and this timeframe will be the one to tell us where price action is going next.
Ideally we continue bearish and break support at 91.000. If this happens look for a lower high below which will present a great short opportunity.
Trade scenario 2: For us to consider AJ bullish for entries we need to see a higher low above 92.850.
Weekly Trend: Bullish
Daily Trend: Bullish
4Hour Trend: Bearish
Trade scenario 1: The higher timeframes are mainly bullish but it is clear to see that we are overextended.
We even can see monthly wicks and weekly rejection so a reversal may be imminent!
On the 4hour we are strongly bearish and this timeframe will be the one to tell us where price action is going next.
Ideally we continue bearish and break support at 91.000. If this happens look for a lower high below which will present a great short opportunity.
Trade scenario 2: For us to consider AJ bullish for entries we need to see a higher low above 92.850.
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