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ForexLeague
Jan 22, 2023 8:19 PM

AUDJPY 4hour Analysis January 22nd, 2023 

Australian Dollar/Japanese YenFXCM

Description

AUDJPY Neutral idea

Weekly Trend: Bullish
Daily Trend: Bearish
4Hour Trend: Bearish

Trade scenario 1: Overall we are actually bearish but this large 4hour range is throwing off some lower timeframe trends.

As we know, we have to let the range do its thing as it is very likely the range will continue. We specifically are looking for reactions near our key resistance 91.000.

If the range continues, look for strong rejection from 91.000 to enter short on.

Trade scenario 2: If we see price action break above 91.000 we will look for the next point of structure (higher low) before we enter long.
Comments
BKTradingAcademy
Nice job! Seems to be rejecting the weekly level at 91.89
IK-Trading
Totaly agree
JoeChampion
Great idea Pal!
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