AUDJPY 4hour Analysis November 1st, 2020
AUDJPY Short idea
Weekly Trend: Bearish
Daily Trend: Bearish
4Hour Trend: Bearish
1Hour Trend: Bearish
Trade scenario 1: Price action has been extremely bearish recently and is maintaining a strong bearish trend. Look for a retest of this recent broken weekly zone and look to enter short on confirmed lower high. Target lower toward major support levels.
Trade scenario 2: For us to consider long scenarios we need to see a confirmed higher low above our 4hour level at 75.000. Look to enter long on strong bullish setups confirming the higher low. Target toward the top of our range at 76.000
Weekly Trend: Bearish
Daily Trend: Bearish
4Hour Trend: Bearish
1Hour Trend: Bearish
Trade scenario 1: Price action has been extremely bearish recently and is maintaining a strong bearish trend. Look for a retest of this recent broken weekly zone and look to enter short on confirmed lower high. Target lower toward major support levels.
Trade scenario 2: For us to consider long scenarios we need to see a confirmed higher low above our 4hour level at 75.000. Look to enter long on strong bullish setups confirming the higher low. Target toward the top of our range at 76.000