AUDJPY 4hour Analysis June 6th, 2021
AUDJPY Long idea
Weekly Trend: Bullish
Daily Trend: Bullish
4Hour Trend: Bullish
Trade scenario 1: Overall we’re very bullish on higher timeframes but we can see that AJ is in a range. For us to comfortably continue with the bullish trend we ideally need to see a higher low above 85.100 zone. Look to enter long after a break and retest with the confirmed higher low. Target higher toward prior highs and key resistance levels.
Trade scenario 2: For us to consider AJ bearish we need to see a bearish break of the range with a lower high below 84.400. Look to enter short after proper confirmation is spotted and target lower toward key support levels.
Weekly Trend: Bullish
Daily Trend: Bullish
4Hour Trend: Bullish
Trade scenario 1: Overall we’re very bullish on higher timeframes but we can see that AJ is in a range. For us to comfortably continue with the bullish trend we ideally need to see a higher low above 85.100 zone. Look to enter long after a break and retest with the confirmed higher low. Target higher toward prior highs and key resistance levels.
Trade scenario 2: For us to consider AJ bearish we need to see a bearish break of the range with a lower high below 84.400. Look to enter short after proper confirmation is spotted and target lower toward key support levels.
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