AUDJPY 4hour Analysis 5/17/20
AUDJPY Short Idea
This pair has been primarily bearish on higher times but has been in a strong 4hour bullish trend up until this current level around our 70.000 resistance level.
At the 70.000 level we saw a double top form followed by lower timeframe bearish transitions, very similar to what we saw on AU
At the current level we want to see this yellow 4hour support zone break followed by more lower timeframe bearish transitions.
The blue arrows are the preferred and highest probable trade outcome here. Look to target lower toward 67.500 after we see a lower high confirmed below or at the yellow 4hour zone.
This pair has been primarily bearish on higher times but has been in a strong 4hour bullish trend up until this current level around our 70.000 resistance level.
At the 70.000 level we saw a double top form followed by lower timeframe bearish transitions, very similar to what we saw on AU
At the current level we want to see this yellow 4hour support zone break followed by more lower timeframe bearish transitions.
The blue arrows are the preferred and highest probable trade outcome here. Look to target lower toward 67.500 after we see a lower high confirmed below or at the yellow 4hour zone.
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