AUDJPY 4hour Analysis July 11th, 2021

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AUDJPY Bearish idea

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

Trade scenario 1: This pair also is bearish across all major timeframes and we plan to look for continuations supporting this trend.

Ideally we see a lower high form right now near 82.200 followed by strong bearish setups to enter short on. Look to target lower toward major support levels and negative fib levels.

Trade scenario 2: For us to consider AJ bullish we would need to see a break of resistance near 83.250, our weekly zone, with a higher low above.

This means price action is generally bearish until we see this break happen.

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