AUDJPY 4hour Analysis January 3rd, 2020

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AUDJPY Long idea

Weekly Trend: Bullish
Daily Trend: Bullish
4Hour Trend: Bullish

Trade scenario 1: AJ is very bullish, we just saw a major break of resistance at 79.000. From here we want to see a pullback to form structure and a higher low above 79.000. Look to enter long on proper confirmation and a moving average cross. Target higher toward our negative fib levels.

Trade scenario 2: For us to consider short scenarios we need to see a break and retest of 79.000. Look to enter short after a confirmed lower high and target lower toward key levels of support.

Penafian

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