AUDJPY 4hour Analysis September 20th, 2020
AUDJPY Short idea
We recently saw a ton of bearish volume step into the market which broke a higher low and key zone at 76.500 which changed this 4hour trend from bullish to bearish
Trend: Bearish
Trade scenario 1: Bearish momentum continues and gives us entry confirmations on the currently forming lower high. Look to target lower toward 75.000
Trade scenario 2: Price action reverses and pushes back through 76.500. Look for a higher low to confirm the reversal. Target higher once again toward key resistance around 77.500
We recently saw a ton of bearish volume step into the market which broke a higher low and key zone at 76.500 which changed this 4hour trend from bullish to bearish
Trend: Bearish
Trade scenario 1: Bearish momentum continues and gives us entry confirmations on the currently forming lower high. Look to target lower toward 75.000
Trade scenario 2: Price action reverses and pushes back through 76.500. Look for a higher low to confirm the reversal. Target higher once again toward key resistance around 77.500