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AUDJPY: Read the Clues!


6hr Time Frame: Reading our price chart above we can see price is trending up with that being said we should be looking for long-term buying opportunities. Reading the data, we can see time and time again price has faked out in one direction and snapped back in the opposite direction causing traders to get enticed thus generating a larger pool of liquidity. Once you read the clues left behind you will be able to understand what the market may do next. AUDJPY is showing strong signs of confluence to the upside and if it holds above 80.000, we will be looking for longs. Due to the uncertainty of market fluidity, risk management is highly recommended.

 

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