AUDJPY 30min Analysis January 19th, 2021
Price is at our key structure zone and 30min 200MA and is now respecting as resistance.
Trade Scenario 1: Bearish - For us to go short we want to see another rejection off the 200MA and structure zone of 80.200. We will enter on strong bearish setups. First targeting previous support around 79.600
Trade Scenario 2: Bullish - For us to go long we need to see price break above the 30min 200MA and structure zone of 80.200. We will then wait for a retrace and for 80.200 to act as support.
Trade Scenario 1: Bearish - For us to go short we want to see another rejection off the 200MA and structure zone of 80.200. We will enter on strong bearish setups. First targeting previous support around 79.600
Trade Scenario 2: Bullish - For us to go long we need to see price break above the 30min 200MA and structure zone of 80.200. We will then wait for a retrace and for 80.200 to act as support.