AUDJPY 4hour Analysis August 1st, 2021 for FX:AUDJPY by ForexLeague

AUDJPY Bearish idea Weekly Trend: Bearish
Daily Trend: Bearish
4Hour Trend: Bearish Trade scenario 1: Definitely looking bearish this week! We currently can spot a potential perfect setup already. From the current level we’re looking for price action to retest broken support at 80.750 to confirm a lower high. Look to enter short on confirmation of the lower high and target lower toward key support levels. Trade scenario 2: For us to consider AJ bullish we would need to see a transition of 81.400 resistance. If we can spot a higher low above this level we will look to enter long and target high resistance levels.


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