AUDJPY 4hour Analysis October 18th, 2020
AUDJPY Short idea
Weekly Trend: Bullish
Daily Trend: Bearish
4Hour Trend: Bearish
Trade scenario 1: Price action continues bearish after the break of this range. From here we want to see structure form followed by strong bearish pressure. Enter on a confirmed retest and target lower toward key support and negative fib levels.
Trade scenario 2: Price action goes bullish and breaks back into the above range. If we see a higher low form above 75.000 you could go long and play the range.
Weekly Trend: Bullish
Daily Trend: Bearish
4Hour Trend: Bearish
Trade scenario 1: Price action continues bearish after the break of this range. From here we want to see structure form followed by strong bearish pressure. Enter on a confirmed retest and target lower toward key support and negative fib levels.
Trade scenario 2: Price action goes bullish and breaks back into the above range. If we see a higher low form above 75.000 you could go long and play the range.