AUDJPY 4hour Analysis June 5th, 2022
AUDJPY Neutral idea
Weekly Trend: Bullish
Daily Trend: Bullish
4Hour Trend: Bullish
Trade scenario 1: All timeframes are back to bullish as we saw a massive rally last week all the way up to 95.000 resistance.
From here we’re expecting some sort of reaction but we are far from any trade scenarios.
For us to consider long scenarios further on AJ we need to see structure first. Look for a retrace and higher low formation above 92.850 support.
Ideally we can retrace, spot some consolidation and catch a clear continuation from price action.
Trade scenario 2: For us to consider AJ for shorts we need to see a strong bearish trend present itself.
We will entertain short scenarios once we break below 92.850 and spot some structure in the form of a lower high below. Look to target lower toward key support levels.
Weekly Trend: Bullish
Daily Trend: Bullish
4Hour Trend: Bullish
Trade scenario 1: All timeframes are back to bullish as we saw a massive rally last week all the way up to 95.000 resistance.
From here we’re expecting some sort of reaction but we are far from any trade scenarios.
For us to consider long scenarios further on AJ we need to see structure first. Look for a retrace and higher low formation above 92.850 support.
Ideally we can retrace, spot some consolidation and catch a clear continuation from price action.
Trade scenario 2: For us to consider AJ for shorts we need to see a strong bearish trend present itself.
We will entertain short scenarios once we break below 92.850 and spot some structure in the form of a lower high below. Look to target lower toward key support levels.
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