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AUDJPY: Can Price Break the Range!

Updated: Jun 30, 2020


4hr Time Frame: Reading price action we can see that price has been ranging in between 72.500-74.500 daily zones (gray). Also notice how price is creating a 4hr range (blue). Price is also creating a double bottom formation with signs of rejection. If price manages to hold above this support 73.500 key psychological, then look for longs back to daily resistance. However, if price manages to break back and close below 73.500, then look for potential shorts down to daily support. Due to the uncertainty of market fluidity, risk management is key.

 

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