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AUDJPY 4hour Analysis June 28th, 2021

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AUDJPY Bearish idea

Weekly Trend: Bullish
Daily Trend: Bearish
4Hour Trend: Bearish

Trade scenario 1: AJ is looking massively bearish as we just confirmed a lower high at 84.400, rejected the 200 ema, and saw a moving average cross after a rising wedge.

Look to target lower toward major support levels. You can even see the bearish volume by the size of the bearish candles presented here.

Trade scenario 2: For us to consider AJ bullish price action would need to break back above 84.400 with a higher low above. Then we can comfortably look for long positions.

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