Hi, and welcome to Monday's update. Today's focus is on AUDJPY and EURJPY. Will we see intraday continuations?
Today's video covers the 4H, but these trade ideas are seen from the 6H timeframe. We have confirmation with the CCi making a zero bounce in an uptrend with the MA supporting with an up angle. Price has made a new HL, and the AUDJPY has formed a new HH. We would like to see the AUDJPY break 95.16 to trigger the buy idea and the EURJPY continue to trade above 147.36.
If both markets can continue to move higher, we would like to see the E/J break 147.70 resistance and both pair rally back up to test/break last week's highs.
If both markets move lower for the next two 4-hour bars, we would see this as a warning and that buyer momentum might not be that strong. So far today, we are witnessing decent buying from the majors to the jpy, so based on the patterns, we are looking for that to continue.
Good trading, and enjoy your Monday.