AUDJPY Trading Analysis
|Today I am looking at the AUDJPY. After that speech above, I am curious to see if this pair will grab more attention than the USDJPY counterpart.
I believe we are about to experience a bear trap and a price-bounce.
After price went just below this major support level at 80.500, it formed a bullish engulfing pattern and then experienced a second day of bullishness.
Currently, I am looking to see a potential retracement towards 80.600 and then a bullish confirmation from the 4H chart.
If I don’t see exactly what I am looking for, I might decide to just skip that potential trading opportunity.
Time and price will show me the way.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.