AUDJPY Short idea
Weekly Trend: Bullish
Daily Trend: Bearish
4Hour Trend: Bearish
Trade scenario 1: As of recently we are now very bearish and are waiting to confirm this new transition.
Ideally we would like to see a reversal at resistance around 83.250 which is also our 38.2% fib level. This rejection would confirm structure and a lower high so look to enter short on strong bearish setups.
Trade scenario 2: For us to consider AJ bullish again we first need to see a break back through resistance at 83.250. Even is this happen we are not fully bullish but price action is telling us that is attempting to resume higher timeframe trends.
If we break above 83.250 it is very likely price action will reach our 84.400 area.
Weekly Trend: Bullish
Daily Trend: Bearish
4Hour Trend: Bearish
Trade scenario 1: As of recently we are now very bearish and are waiting to confirm this new transition.
Ideally we would like to see a reversal at resistance around 83.250 which is also our 38.2% fib level. This rejection would confirm structure and a lower high so look to enter short on strong bearish setups.
Trade scenario 2: For us to consider AJ bullish again we first need to see a break back through resistance at 83.250. Even is this happen we are not fully bullish but price action is telling us that is attempting to resume higher timeframe trends.
If we break above 83.250 it is very likely price action will reach our 84.400 area.
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.
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.