AUDJPY - Short term - We look to Buy a break
Price is in a falling wedge bullish pattern
Posted a Triple Bottom formation.
Previous resistance located at 74.32.
A break of 74.32 is needed to confirm follow through bullish momentum. Bullish divergence is expected to support prices.
The 50% Fibonacci retracement is located at 75.36 from 76.52 to 74.20.
Risk/reward is ample to call a buy trade.
Our profit targets will be 75.36 and 75.50
Resistance: 74.32 / 74.46 / 75.36
Support: 74.32 / 74.20 / 74.17
Price is in a falling wedge bullish pattern
Posted a Triple Bottom formation.
Previous resistance located at 74.32.
A break of 74.32 is needed to confirm follow through bullish momentum. Bullish divergence is expected to support prices.
The 50% Fibonacci retracement is located at 75.36 from 76.52 to 74.20.
Risk/reward is ample to call a buy trade.
Our profit targets will be 75.36 and 75.50
Resistance: 74.32 / 74.46 / 75.36
Support: 74.32 / 74.20 / 74.17
Trade active
Trade closed: target reached
Profit taken at 74.800 area.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.