AUD/JPY Potential Long Scenario by ThinkingAntsOk
DAILY CHART EXPLANATION:
🔸 Price is on a clear downtrend since 2019.
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🔸 It has consolidated on a Daily Wedge Pattern.
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🔸 Now, price is facing the confluence zone between the Support Zone and the lower trendline of the wedge.
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🔸 Will wait to see how it reacts, and, if there is a clear scenario, will look for a lower timeframe setup.
4H CHART ANALYSIS:
🔸 Price is on a clear downtrend since 2019.
.
🔸 It has consolidated on a Daily Wedge Pattern.
.
🔸 Now, price is facing the confluence zone between the Support Zone and the lower trendline of the wedge.
.
🔸 Will wait to see how it reacts, and, if there is a clear scenario, will look for a lower timeframe setup.
4H CHART ANALYSIS: