AUDJPY Daily Analysis April 10th, 2022
AUDJPY Neutral idea
Weekly Trend: Bullish
Daily Trend: Bullish
4Hour Trend: Bullish
Trade scenario 1: Price action on this pair is still very overextended. We’re still looking for a massive pullback to correct this rally and form structure.
Without structure we can’t do much on this pair just yet. Ideally, we see some consolidation followed by a pullback to 88.000 support.
Trade scenario 2: We may have a short position loading up as well but it will be more risky without structure.
Look for a break and retest of 91.000 support with strong bearish candlesticks to enter short on. Look to target lower toward 88.000 support.
Weekly Trend: Bullish
Daily Trend: Bullish
4Hour Trend: Bullish
Trade scenario 1: Price action on this pair is still very overextended. We’re still looking for a massive pullback to correct this rally and form structure.
Without structure we can’t do much on this pair just yet. Ideally, we see some consolidation followed by a pullback to 88.000 support.
Trade scenario 2: We may have a short position loading up as well but it will be more risky without structure.
Look for a break and retest of 91.000 support with strong bearish candlesticks to enter short on. Look to target lower toward 88.000 support.
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