AUDJPY 30min Analysis February 8th, 2021

Trade Scenario 1: Bullish - Price has broken above our key supply zone of 80.850. We are now waiting for price to retrace back to our key zone and for 80.850 to flip as support. Enter on strong bullish setups.

Trade Scenario 2: Bearish - For us to look short we need to see price break below 80.850. We will then wait for a retrace and for 80.850 to act as resistance once again.