AUDJPY Trading Analysis

Colibri Trader Colibri Trader

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.

Author

Colibri Trader

Colibri Trader, as he is known in the circles, is based in London, UK. He Started his career in one of the leading prop trading houses at the time and then has moved out to form his own company- Colibri Trader Limited.

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