AUDJPY Bearish idea
Weekly Trend: Bearish
Daily Trend: Bearish
4Hour Trend: Bullish
Trade scenario 1: AJ is very much bearish on higher timeframes, however, we are in a large retracement. It looks like price action is going to test broken structure around 80.750 before we see something we can take a trade on.
Ideally we see a strong reversal at 80.750 with plenty of confluence that we can then enter short on. Look to target lower to major support levels.
Trade scenario 2: For us to consider AJ bullish we need to see a clear break above 80.750 with a confirmed higher low above.
Weekly Trend: Bearish
Daily Trend: Bearish
4Hour Trend: Bullish
Trade scenario 1: AJ is very much bearish on higher timeframes, however, we are in a large retracement. It looks like price action is going to test broken structure around 80.750 before we see something we can take a trade on.
Ideally we see a strong reversal at 80.750 with plenty of confluence that we can then enter short on. Look to target lower to major support levels.
Trade scenario 2: For us to consider AJ bullish we need to see a clear break above 80.750 with a confirmed higher low above.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.