AUD/JPY to break beyond important pivot point
Updated
As you see on the pic provided, price is caught in the crosshairs between two important pivot points. The first pivot point is from Dec. 13, 2019 what "retailers" would call resistance. As you can observe, price reacted in that level. The other is from Nov. 8, 2019. Price has yet to retrace to that point. But based on the fact that there wasn't a massive sell-off yet and is currently holding between these two important levels, my bias is that price will break to new highs either after finishing its short retracement or it'll shoot up now.
Note
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My trade is open on AUD/JPY long position. Entry is 75.862
Target is 76.14
Total pips - spread: 27.8
Note
Target has been updated from 76.14 to 76.092Total pips - spread: 23 pips
Trade closed manually
Target not reached. Closed trade for 12.2 pips at 75.984.Reasons: market dynamic change observed
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