More pullback in store for this JPY pair?
BULLISH CONFIRMATION
- uptrend on daily, 4h, 2h
- imb created in line with a
bullish engulfing indicating
that it will be mitigated
- upside down triangular formation
between trend line and bearish OB
- above both MA’s
REVERSAL/PULLBACK SIGNS
- failed to reach a HH
- liquidity sweep after consolidation
- supply side liquidity has been collecting
- MA50 under EMA200
- overbought
- rejected bearish OB
Since we have a bullish pair, we’ll be looking at buying once price has pulled back. It has a lot of liquidity lying @92.6300 which we can expect to be grabbed shortly. We’ve had a bullish liquidity sweep signalling the imminence.
Supply side liquidity @95.462 remains out of reach for now, although since it lies along a bullish OB, we can speculate a grab for this resulting in a potential fake CHoCH, before we continue with the bullish nature.
AUDJPY is awaiting more buy signals to trigger a long opportunity, since the indications of a pullback first outnumber.
- uptrend on daily, 4h, 2h
- imb created in line with a
bullish engulfing indicating
that it will be mitigated
- upside down triangular formation
between trend line and bearish OB
- above both MA’s
REVERSAL/PULLBACK SIGNS
- failed to reach a HH
- liquidity sweep after consolidation
- supply side liquidity has been collecting
- MA50 under EMA200
- overbought
- rejected bearish OB
Since we have a bullish pair, we’ll be looking at buying once price has pulled back. It has a lot of liquidity lying @92.6300 which we can expect to be grabbed shortly. We’ve had a bullish liquidity sweep signalling the imminence.
Supply side liquidity @95.462 remains out of reach for now, although since it lies along a bullish OB, we can speculate a grab for this resulting in a potential fake CHoCH, before we continue with the bullish nature.
AUDJPY is awaiting more buy signals to trigger a long opportunity, since the indications of a pullback first outnumber.