AUDJPY Bearish idea
Weekly Trend: Bullish
Daily Trend: Bullish
4Hour Trend: Bearish
Trade scenario 1: Overall AJ has been bullish on the major timeframes but last week the 4hour timeframe has been falling off in a strong bearish trend.
If we are to continue bearish we would need to see strong rejection from the current zone 96.000. Look to target lower if this happens.
Trade scenario 2: If price action pushed back above 96.000 it’s likely we will see a rally to 97.000 where we will have to look for a break or bounce.
Weekly Trend: Bullish
Daily Trend: Bullish
4Hour Trend: Bearish
Trade scenario 1: Overall AJ has been bullish on the major timeframes but last week the 4hour timeframe has been falling off in a strong bearish trend.
If we are to continue bearish we would need to see strong rejection from the current zone 96.000. Look to target lower if this happens.
Trade scenario 2: If price action pushed back above 96.000 it’s likely we will see a rally to 97.000 where we will have to look for a break or bounce.