AUDJPY 4hour Analysis October 23rd, 2022
AUDJPY Neutral idea
Weekly Trend: Bearish
Daily Trend: Bearish
4Hour Trend: Bullish
Trade scenario 1: We are newly bullish on AJ 4hour timeframe as we saw price action push up to 95.000 resistance.
The most likely scenario is a continuation of this pattern formation with price action falling to support. You can either trade inside the pattern if this happens or wait for a bearish break to short.
Trade scenario 2: If we do see AJ continue bullish we need to see structure above 95.000 resistance. Look to target higher if this happens.
Weekly Trend: Bearish
Daily Trend: Bearish
4Hour Trend: Bullish
Trade scenario 1: We are newly bullish on AJ 4hour timeframe as we saw price action push up to 95.000 resistance.
The most likely scenario is a continuation of this pattern formation with price action falling to support. You can either trade inside the pattern if this happens or wait for a bearish break to short.
Trade scenario 2: If we do see AJ continue bullish we need to see structure above 95.000 resistance. Look to target higher if this happens.