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.
This material is written for educational purposes only. By no means do any of its contents recommend, advocate or urge the buying, selling or holding of any financial instrument whatsoever. Trading and Investing involves high levels of risk. The author expresses personal opinions and will not assume any responsibility whatsoever for the actions of the reader. The author may or may not have positions in Financial Instruments discussed in this newsletter. Future results can be dramatically different from the opinions expressed herein. Past performance does not guarantee future results.
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