AUDJPY 4hour Analysis 5/9/20
AUDJPY Short Idea
Overall higher timeframes are very bearish however we have a strong bullish 4hour trend.
Currently price action is at a key level around 70.000, the 61.8% fib, and weekly resistance zone.
Ideally a strong reversal from this level followed by lower timeframe transitions would be enough to target lower toward 67.500
If we do see this strong 4hour trend continue to push higher we need to see a clear break and retest of 70.000 followed by bullish setups. Look to target higher resistance levels.
Overall higher timeframes are very bearish however we have a strong bullish 4hour trend.
Currently price action is at a key level around 70.000, the 61.8% fib, and weekly resistance zone.
Ideally a strong reversal from this level followed by lower timeframe transitions would be enough to target lower toward 67.500
If we do see this strong 4hour trend continue to push higher we need to see a clear break and retest of 70.000 followed by bullish setups. Look to target higher resistance levels.
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