AUDJPY Short idea
Weekly Trend: Bullish
Daily Trend: Bullish
4Hour Trend: Bearish
Trade scenario 1: Higher timeframes are bullish but we have been seeing some high volume ranging happening on this pair. Currently price action on the 4hour is pushing lower and could present some great short opportunities. Look for a break and retest of 83.300 with a lower high below. Look to target lower toward support around 82.200
Trade scenario 2: For us to consider AJ bullish on the 4hour we need to see a break back above 84.150. In the meantime, you could find a long opportunity on some lower timeframe confirmation if price action starts to reverse at the current level.
Weekly Trend: Bullish
Daily Trend: Bullish
4Hour Trend: Bearish
Trade scenario 1: Higher timeframes are bullish but we have been seeing some high volume ranging happening on this pair. Currently price action on the 4hour is pushing lower and could present some great short opportunities. Look for a break and retest of 83.300 with a lower high below. Look to target lower toward support around 82.200
Trade scenario 2: For us to consider AJ bullish on the 4hour we need to see a break back above 84.150. In the meantime, you could find a long opportunity on some lower timeframe confirmation if price action starts to reverse at the current level.