AUDJPY 4hour Analysis 4/12/20
AUDJPY Neutral Idea
This pair has been holding a strong 4hr bullish trend but volume has been significantly dropping off.
This week I expect to see a bit of a fall in price to the 67.600 level before we can accurately see where price action is headed.
From this level we want to either see a break or bounce.
If we see a break of 67.600 we will look for a retest followed by strong bearish setups before we start shorting again.
If we see a bounce, assume the continuation of the 4hr bullish trend and target next significant resistance levels.
This pair has been holding a strong 4hr bullish trend but volume has been significantly dropping off.
This week I expect to see a bit of a fall in price to the 67.600 level before we can accurately see where price action is headed.
From this level we want to either see a break or bounce.
If we see a break of 67.600 we will look for a retest followed by strong bearish setups before we start shorting again.
If we see a bounce, assume the continuation of the 4hr bullish trend and target next significant resistance levels.
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