AUDJPY 4hour Analysis August 23rd, 2020
AUDJPY Long idea
Overall all significant timeframes are very bullish on this pair. We will continue with this overall trend until we see a major transition.
Current price action is in a large ascending triangle with a monthly zone at 76.500. We’re looking for a strong reversal from the current level at 75.600, with confirmed higher lows.
Ideally a break and retest of 76.700 would be enough to enter long and target toward higher resistance levels.
If we see a break and retest of 75.600 with confirmed lower highs below the zone we could consider short opportunities.
Overall all significant timeframes are very bullish on this pair. We will continue with this overall trend until we see a major transition.
Current price action is in a large ascending triangle with a monthly zone at 76.500. We’re looking for a strong reversal from the current level at 75.600, with confirmed higher lows.
Ideally a break and retest of 76.700 would be enough to enter long and target toward higher resistance levels.
If we see a break and retest of 75.600 with confirmed lower highs below the zone we could consider short opportunities.