AUDJPY 4hour Analysis October 31st, 2021
AUDJPY Bullish idea
Weekly Trend: Bearish
Daily Trend: Bullish
4Hour Trend: Bullish
Trade scenario 1: Looking bullish here on AJ and we still have not formed structure. We are actually seeing price action form a symmetrical triangle pattern above support around 85.000.
Based on price action we’re looking to break the pattern in a bullish way and continue higher.
Trade scenario 2: Although we are over extended, price action is still showing us strong signs of bullishness. So for us to consider AJ bearish on this timeframe we would need to see a break below 85.000 with a lower high below.
Weekly Trend: Bearish
Daily Trend: Bullish
4Hour Trend: Bullish
Trade scenario 1: Looking bullish here on AJ and we still have not formed structure. We are actually seeing price action form a symmetrical triangle pattern above support around 85.000.
Based on price action we’re looking to break the pattern in a bullish way and continue higher.
Trade scenario 2: Although we are over extended, price action is still showing us strong signs of bullishness. So for us to consider AJ bearish on this timeframe we would need to see a break below 85.000 with a lower high below.