AUDJPY Analysis

6 apr 2020

Will be entering short when rules of my strategy are met. On the 4 hour which I use for entries, I will be waiting for a touch of the 200 MA, trend line touch and rejection from the resistance area. We've also had a rejection from a key fib level to provide another confluence. This potential setup will provide a 6.48 R/R as we aim for previous lows made last month and will use a trailing stop to maximize on the position. Alternatively, if price break and holds above the 68.000 region we will then be shifting our bias and look for longs.