AUDJPY 4hour Analysis November 6th, 2022
AUDJPY Bullish idea
Weekly Trend: Bullish
Daily Trend: Bullish
4Hour Trend: Bullish
Trade scenario 1: Overall we have been generally bullish on AJ but we have been stuck between these two zones for quite a while.
Price action is clearly struggling to find a trend so we will wait until the range is broken.
Ideally, we see price action break above our 94.750 resistance and form a higher low above.
Look to enter long and target toward higher resistance levels.
Trade scenario 2: For us to consider AJ more bearish on the 4hour timeframe we would need to see a break below the range and 93.750 support.
Look to enter short on confirmed lower highs if this happens.
Weekly Trend: Bullish
Daily Trend: Bullish
4Hour Trend: Bullish
Trade scenario 1: Overall we have been generally bullish on AJ but we have been stuck between these two zones for quite a while.
Price action is clearly struggling to find a trend so we will wait until the range is broken.
Ideally, we see price action break above our 94.750 resistance and form a higher low above.
Look to enter long and target toward higher resistance levels.
Trade scenario 2: For us to consider AJ more bearish on the 4hour timeframe we would need to see a break below the range and 93.750 support.
Look to enter short on confirmed lower highs if this happens.
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