AUDJPY Long idea
Weekly Trend: Bullish
Daily Trend: Bullish
4Hour Trend: Bullish
Trade scenario 1: Overall we are back to bullish. Last week we did see a strong reversal near our 100% fib level followed by a rally. At the current level we can not just take a long opportunity, we need to wait for a higher low & new support to form. Ideally we want to see a transition of 84.150 with a confirmed higher low that we can enter on. Look to target higher toward key resistance levels.
Trade scenario 2: Overall we are bullish until we see 83.300 break and retest. Look to target lower toward key support levels if this happens.
Weekly Trend: Bullish
Daily Trend: Bullish
4Hour Trend: Bullish
Trade scenario 1: Overall we are back to bullish. Last week we did see a strong reversal near our 100% fib level followed by a rally. At the current level we can not just take a long opportunity, we need to wait for a higher low & new support to form. Ideally we want to see a transition of 84.150 with a confirmed higher low that we can enter on. Look to target higher toward key resistance levels.
Trade scenario 2: Overall we are bullish until we see 83.300 break and retest. Look to target lower toward key support levels if this happens.