AUDJPY Bearish idea
Weekly Trend: Bearish
Daily Trend: Bearish
4Hour Trend: Bearish
Trade scenario 1: We are still looking very bearish here on AJ and it looks like it will be continuing with this trend.
From where current price action is it will either push lower with strong bearish momentum or price action will pull back to a resistance level before dropping.
Either way we’re looking to target our -27% fib level once we can confirm our next lower high and enter on strong bearish setups.
Trade scenario 2: For us to consider AJ bullish we need to see a lot from price action. Ideally, a break above 82.200 with some clean higher lower setups would be enough to mark up some long positions.
Weekly Trend: Bearish
Daily Trend: Bearish
4Hour Trend: Bearish
Trade scenario 1: We are still looking very bearish here on AJ and it looks like it will be continuing with this trend.
From where current price action is it will either push lower with strong bearish momentum or price action will pull back to a resistance level before dropping.
Either way we’re looking to target our -27% fib level once we can confirm our next lower high and enter on strong bearish setups.
Trade scenario 2: For us to consider AJ bullish we need to see a lot from price action. Ideally, a break above 82.200 with some clean higher lower setups would be enough to mark up some long positions.