AUDJPY 4hour Analysis 1/4/20

AUDJPY Long Idea

On the daily and 4 hour time-frame we can see that AJ has been very bullish however, on the higher time-frames price action shows to be very bearish

Continuing with the most current trend we’re looking for long setups until we see a significant transition (break of a higher low) then our bias will change

At the current support level we can see that we have a 100% fib retracement and from here we’re looking for strong bullish setups before we target higher..

Our target for this pair will be our major resistance level around 77.000 and our -27% fib level