AUD/JPY NEUTRAL (71.900 or 70.560)
My BIAS for AUD/JPY for the upcoming week is currently NEUTRAL.
My reasoning behind this is
We are currently consolidating between Daily Support level at 71.050 and Daily Resistance Level at 72.560.
We are currently at the Support level so we could see a rejection of this level for a push up towards previous 4HR Support at 71.900
Or we could see a break below our Support and a Retest rejection to the upside towards our Weekly Support at 70.560.
I will only take this position if one of these line up .
Currently this trade is a 50/50 so we need just that 51/49 edge to make it succeed essful.
Like & Follow for more future analysis and updates.
My reasoning behind this is
We are currently consolidating between Daily Support level at 71.050 and Daily Resistance Level at 72.560.
We are currently at the Support level so we could see a rejection of this level for a push up towards previous 4HR Support at 71.900
Or we could see a break below our Support and a Retest rejection to the upside towards our Weekly Support at 70.560.
I will only take this position if one of these line up .
Currently this trade is a 50/50 so we need just that 51/49 edge to make it succeed essful.
Like & Follow for more future analysis and updates.