AUDJPY 4hour Analysis 3/22/20
AUDJPY Short Idea
This pair is primarily looking bearish on all significant time frames so our first trade idea will favor a bearish outlook.
Currently we are seeing price action retrace to the prior LH around 65.500. We are looking for one of two scenarios to play out:
1. Price action pushes lower breaking support around 63.500 followed by a retest with strong bearish setups, target lower toward the -27% fib
2. Price action breaks resistance at 65.500 followed by a retest with strong bullish setups, target toward the weekly resistance around 70.000
This pair is primarily looking bearish on all significant time frames so our first trade idea will favor a bearish outlook.
Currently we are seeing price action retrace to the prior LH around 65.500. We are looking for one of two scenarios to play out:
1. Price action pushes lower breaking support around 63.500 followed by a retest with strong bearish setups, target lower toward the -27% fib
2. Price action breaks resistance at 65.500 followed by a retest with strong bullish setups, target toward the weekly resistance around 70.000
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