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Monday, December 21, 2020

AUDJPY 1hour Analysis December 21st, 2020

AUDJPY 1hour Analysis December 21st, 2020

AUD/JPY OANDA:AUDJPY

Price has printed a strong bearish engulfing on the 1h timeframe, followed by further bearish pressure through the 200MA.

Trade Scenario 1: Bullish - For us to go long we will need to see price form support at our current demand zone of 78.20. Enter on strong bullish candles/variations.

Trade Scenario 2: Bearish - For us to go short we will need to see price break through 78.20 with conviction. We will then look for a retrace and for the 78.20 zone to flip as resistance. Enter on strong bearish candles/variations.



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