AUDJPY Bearish idea
Weekly Trend: Bearish
Daily Trend: Bearish
4Hour Trend: Bearish
Trade scenario 1: We’re still technically bearish here on AJ but it has been throwing some fake outs here and there.
Essentially we’re still in a period of consolidation while price action figures out where it wants to go. In the meantime we’ll remain prepared. If price action drops below 80.750 and forms a lower high we’ll be interested in entering short.
Trade scenario 2: For us to consider AJ bullish we would ideally need to break the resistance of the range around 81.400. If we see some higher lows above we could be looking at some long positions.
Weekly Trend: Bearish
Daily Trend: Bearish
4Hour Trend: Bearish
Trade scenario 1: We’re still technically bearish here on AJ but it has been throwing some fake outs here and there.
Essentially we’re still in a period of consolidation while price action figures out where it wants to go. In the meantime we’ll remain prepared. If price action drops below 80.750 and forms a lower high we’ll be interested in entering short.
Trade scenario 2: For us to consider AJ bullish we would ideally need to break the resistance of the range around 81.400. If we see some higher lows above we could be looking at some long positions.