AUDJPY 4hour 12/8/19
AJ Short idea
Ultimately I am looking for more bearish volume to enter short based on higher time frame analysis, however, the daily time frame has been pretty bullish up until recent price action
Taking a closer look here on the 4 hour we can see price action forming higher lows around the daily 38.2% fib level and monthly resistance
Upon a break and retest of support around 74.00 we will look to target lower toward our lower trendline around 73.350 and even lower toward our weekly support around 71.000 given we see the confirmations necessary
Ultimately I am looking for more bearish volume to enter short based on higher time frame analysis, however, the daily time frame has been pretty bullish up until recent price action
Taking a closer look here on the 4 hour we can see price action forming higher lows around the daily 38.2% fib level and monthly resistance
Upon a break and retest of support around 74.00 we will look to target lower toward our lower trendline around 73.350 and even lower toward our weekly support around 71.000 given we see the confirmations necessary
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