AUDJPY 30min Analysis February 10th, 2021
Price is currently consolidating around our key supply zone of 80.850 and is finding support on the 30min 200MA.
Trade Scenario 1: Bullish - For us to go long we need to see price break above our supply zone of 80.850. We will then wait for a retrace and for 80.850 to flip as support. Enter on strong bullish setups.
Trade Scenario 2: Bearish - For us to go long we need to see price reject off our supply zone once again. We will look to enter on strong bearish setups, first targeting our key weekly level of 80.650
Trade Scenario 1: Bullish - For us to go long we need to see price break above our supply zone of 80.850. We will then wait for a retrace and for 80.850 to flip as support. Enter on strong bullish setups.
Trade Scenario 2: Bearish - For us to go long we need to see price reject off our supply zone once again. We will look to enter on strong bearish setups, first targeting our key weekly level of 80.650
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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.