On AudJpy, I'm looking for the same type of deal that we're looking for on AudUsd. Price has retraced back to a Significant Horizontal Level, and now I'm just waiting for proper bearish rejection. This pair may be a little trickier because the Daily Level is not as defined as the other AUD pair.
With this being said, it could be possible that price may overextend into or past the Horizontal Level before displaying proper bearish rejection. I'll have to be very disciplined on this one, and make sure that price is CLEARLY rejecting away from the level before placing any sell orders. And just to clarify what clear bearish rejection is in my subjective opinion, a strong bearish candle closure on the H4 chart. Stay patient👌
With this being said, it could be possible that price may overextend into or past the Horizontal Level before displaying proper bearish rejection. I'll have to be very disciplined on this one, and make sure that price is CLEARLY rejecting away from the level before placing any sell orders. And just to clarify what clear bearish rejection is in my subjective opinion, a strong bearish candle closure on the H4 chart. Stay patient👌
