AUDJPY 4hour Analysis 4/26/20
AUDJPY Long Idea
Higher timeframes suggest that this pair is primarily bearish, however, we have seen a strong bullish 4hour trend.
We are currently going to stick with the 4hour bullish bias as we are continuously seeing bullish confirmations.
We recently saw this bullish flag form and break to the upside. Look for more bullish confirmations to then enter long on. Target toward our weekly resistance level around 70.000
If price action fails to push higher and actually falls out of this area look for support around 67.500 to break and retest followed by strong bearish setups. Look to target lower toward our next major support around 64.750
Higher timeframes suggest that this pair is primarily bearish, however, we have seen a strong bullish 4hour trend.
We are currently going to stick with the 4hour bullish bias as we are continuously seeing bullish confirmations.
We recently saw this bullish flag form and break to the upside. Look for more bullish confirmations to then enter long on. Target toward our weekly resistance level around 70.000
If price action fails to push higher and actually falls out of this area look for support around 67.500 to break and retest followed by strong bearish setups. Look to target lower toward our next major support around 64.750
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