AUDJPY Range High| .50 Fibonacci| Range Deviation| Bearish PA
Evening Traders,
Second analysis – AUDJPY- price putting in a range deviation, any rallies are to be faded.
Points to consider,
- Trend bearish PA
- Range High Resistance
- Range Low Support
- Oscillators Extended
- Low Volume
AUDJPY’s immediate price action is bearish by establishing a range deviation; this allows us to have a bearish bias on the market.
The Range high is current resistance; a respect of the level will establish a bearish retest.
Range low is the immediate support; price is likely to respect this area due technical confluence with the 200 EMA.
Both oscillators are approaching oversold conditions, indicative of a short term oversold bounce.
The current volume nodes are below average, an influx is highly probable when testing key trade locations.
Overall, in my opinion, AUDJPY is a valid short with defined risk. Price action is to be used upon management/ discretion of trade.
Hope this analysis helps!
Thank you for following my work!
And remember,
“Only The Game , Can Teach You The Game” – Jesse Livermore
Second analysis – AUDJPY- price putting in a range deviation, any rallies are to be faded.
Points to consider,
- Trend bearish PA
- Range High Resistance
- Range Low Support
- Oscillators Extended
- Low Volume
AUDJPY’s immediate price action is bearish by establishing a range deviation; this allows us to have a bearish bias on the market.
The Range high is current resistance; a respect of the level will establish a bearish retest.
Range low is the immediate support; price is likely to respect this area due technical confluence with the 200 EMA.
Both oscillators are approaching oversold conditions, indicative of a short term oversold bounce.
The current volume nodes are below average, an influx is highly probable when testing key trade locations.
Overall, in my opinion, AUDJPY is a valid short with defined risk. Price action is to be used upon management/ discretion of trade.
Hope this analysis helps!
Thank you for following my work!
And remember,
“Only The Game , Can Teach You The Game” – Jesse Livermore
Join my free telegram! t.me/chartdoctorsanconsultants
Follow me on Twitter! twitter.com/pinkdawn__
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