AUDJPY: Trade Ideas
I did a MTF Analysis on AUDJPY. Here are my thoughts.
After confirmation on lower timeframes, you can enter a long trade till the next hourly resistance around 94.150
Short trade at the same key level to the next support level around 93.900.
Take a look at the right chart, you can see the daily chart. I draw a fibonacci from last swing low to next swing high. I already retest the 0.5 fib level, but is is still in a downward trend. When the daily downward trendline is broken, look for long entry to next resistance level around 94.730.
What do you think of my analysis?
Happy Trading!
After confirmation on lower timeframes, you can enter a long trade till the next hourly resistance around 94.150
Short trade at the same key level to the next support level around 93.900.
Take a look at the right chart, you can see the daily chart. I draw a fibonacci from last swing low to next swing high. I already retest the 0.5 fib level, but is is still in a downward trend. When the daily downward trendline is broken, look for long entry to next resistance level around 94.730.
What do you think of my analysis?
Happy Trading!
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