AUDJPY 4hour Analysis 5/31/20
AUDJPY Long Idea
Much like AU we are seeing price action push past daily LH’s and is looking to form a bullish transition.
On the 4hour timeframe and lower we are looking for strong bullish setups at market open to present a bullish trade opportunity. Look to target our -61.8% fib level around 72.850
The blue arrow represents the likely trade path for this week, price action could push much higher if we see this daily resisting trendline break
The orange arrow represents the potential bearish trade scenario if our supporting structure zone around 71.000 breaks.
Much like AU we are seeing price action push past daily LH’s and is looking to form a bullish transition.
On the 4hour timeframe and lower we are looking for strong bullish setups at market open to present a bullish trade opportunity. Look to target our -61.8% fib level around 72.850
The blue arrow represents the likely trade path for this week, price action could push much higher if we see this daily resisting trendline break
The orange arrow represents the potential bearish trade scenario if our supporting structure zone around 71.000 breaks.
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