Price already touches monthly strong supply level, and break trendline in the 4H timeframe. We will expect the price to continue up temporarily and get rejected at 4H 1.22031 price area, targeting down to 1.21150.
As we can see price already near the monthly supply level which is presented as the big blue zone up. We expect the price will go there after a retracement to near 90.110 prices. We can go long at that price point and exit when the price reaching the monthly supply zone.
We expect the price will drop to around 0.92963 to form the 2nd shoulder on head and shoulder formation, we will catch bullish movement at the 2nd shoulder and exit in the area where head and shoulder formation were complete.
Multiple rejections at around 0.73052 prices show us that the price will be dropping soon, so we will expect for sell opportunity after the price bounces off of 0.72277 area. Price will continue to go down to the target 0.69505 area.
After ranging a couple of weeks, we expecting the price will go down to the daily demand level. After price confirmation by retesting the channel line, we will constantly look for sell opportunities through dropping price momentum until 1.37000 price area.
It looks like AUDJPY start losing its momentum near 86.562 which is monthly supply zone . We expect price breaking the trendline and drop from the current price 84.807 to weekly demand area 80.925 that we will be in short side at every 4H or 1D supply zones.
2nd scenario might be price will go up directly to monthly supply and we will looking for next demand zone in 4H.
The price already touches monthly demand area which is very strong, so we will expect the price to bounce up and breaking weekly supply area.
In 4H timeframe the price already breaks 4H trendline, expecting the price will be dropping to 1.20548 area so we can prepare to going long and set the target around 1:5 reward ratio or 1.22207 area.
We expecting the price to go up directly to around 0.91275 before it comes back to the 0.89900 area. The weekly trend is in a downtrend, so after the price comes to the 0.91200 area we will prepare to shorting USDCHF to target 0.90000 price area.
We see potential head and shoulder pattern, current USDJPY market condition in 4H is now sideways, so we will wait for price to retrace 110.105 price and bouncing back down to 109.251 area which is 4H demand area.
We expecting for the price to either bounce from 4H supply level at 0.77469 area down directly to 0.76250 or continue to go up until daily supply at 0.78144 and bouncing back from there and drop to the 0.76500 area.
We hope for price to drop from D1 Supply zone to H4 Supply zone. We just need to confirm first.
After that we see again what happen next, if price continue to drop we will prepare to open BUY at D1 Demand zone.
