AUDJPY Bearish idea
Weekly Trend: Bearish
Daily Trend: Bearish
4Hour Trend: Bearish
Trade scenario 1: We are fully bearish on AJ and it looks like it will continue into this week.
Currently we are in an active trade where we rejected from 38.2% sharply. It is likely price action will continue lower and establish a new lower low.
If we are able to spot quality lower highs on the way we may consider entry opportunities.
Trade scenario 2: For us to see AJ as more bullish we first need to break above the lower highs established at 38.2%. This needs to happen along with a higher low above 95.000, ideally.
Weekly Trend: Bearish
Daily Trend: Bearish
4Hour Trend: Bearish
Trade scenario 1: We are fully bearish on AJ and it looks like it will continue into this week.
Currently we are in an active trade where we rejected from 38.2% sharply. It is likely price action will continue lower and establish a new lower low.
If we are able to spot quality lower highs on the way we may consider entry opportunities.
Trade scenario 2: For us to see AJ as more bullish we first need to break above the lower highs established at 38.2%. This needs to happen along with a higher low above 95.000, ideally.