AUDJPY 30min Analysis January 26th, 2021
Price has broken above our resistance line and key structure zone of 80.250.
Trade Scenario 1: Bullish - For us to go long we are looking for either a double bottom off 80.250 or a quick break and retest of 80.350. Enter on strong bullish setups, first targeting our key weekly at 80.650
Trade Scenario 2: Bearish - For us to go short we want to see price break below our structure zone of 80.250. We will then wait for a retrace and for price to respect our resistance trendline once again.
Trade Scenario 1: Bullish - For us to go long we are looking for either a double bottom off 80.250 or a quick break and retest of 80.350. Enter on strong bullish setups, first targeting our key weekly at 80.650
Trade Scenario 2: Bearish - For us to go short we want to see price break below our structure zone of 80.250. We will then wait for a retrace and for price to respect our resistance trendline once again.
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Disclaimer
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.