AUDJPY 4hour Analysis June 6th, 2021
AUDJPY Long idea
Weekly Trend: Bullish
Daily Trend: Bullish
4Hour Trend: Bullish
Trade scenario 1: Overall we’re very bullish on higher timeframes but we can see that AJ is in a range. For us to comfortably continue with the bullish trend we ideally need to see a higher low above 85.100 zone. Look to enter long after a break and retest with the confirmed higher low. Target higher toward prior highs and key resistance levels.
Trade scenario 2: For us to consider AJ bearish we need to see a bearish break of the range with a lower high below 84.400. Look to enter short after proper confirmation is spotted and target lower toward key support levels.
Weekly Trend: Bullish
Daily Trend: Bullish
4Hour Trend: Bullish
Trade scenario 1: Overall we’re very bullish on higher timeframes but we can see that AJ is in a range. For us to comfortably continue with the bullish trend we ideally need to see a higher low above 85.100 zone. Look to enter long after a break and retest with the confirmed higher low. Target higher toward prior highs and key resistance levels.
Trade scenario 2: For us to consider AJ bearish we need to see a bearish break of the range with a lower high below 84.400. Look to enter short after proper confirmation is spotted and target lower toward key support levels.
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.