AUDJPY is currently in an UPTREND. I found three Demand Zones in the lower time frames for areas where price would potentially retrace to. Currently the price is in the Demand Zone in the 1HR time frame, I'd prefer for the price to retrace lower but I will be keeping an eye on how price reacts to the current zone. There's already a hammer candlestick pattern formed as an additional confirmation and also AUD's relative strength for the week is really strong.
If price did not respect the current zone, I will be looking at the other demand zones that are lower but my bias remains BULLISH overall, I will only be changing my bias if price breaks the Support Levels in 4HR and Daily time frames.
If price did not respect the current zone, I will be looking at the other demand zones that are lower but my bias remains BULLISH overall, I will only be changing my bias if price breaks the Support Levels in 4HR and Daily time frames.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.