AUDJPY: Give me reasons to leave the rocket!
Hello Traders,
AUD/JPY has been on a remarkable bullish run, riding the trend within an ascending channel on the daily chart. The price is now approaching the upper boundary of the channel, and while the bulls are in control, we need to watch for signs of exhaustion.
Resistance at 110.00
Support at 108.50 (trendline)
Next major support at 105.00 (midline of the channel)
Keep an eye on how the price reacts at these critical levels. A breakout above 110.00 could lead to new highs, while a failure could mean a potential pullback or consolidation.
AUD/JPY has been on a remarkable bullish run, riding the trend within an ascending channel on the daily chart. The price is now approaching the upper boundary of the channel, and while the bulls are in control, we need to watch for signs of exhaustion.
Resistance at 110.00
Support at 108.50 (trendline)
Next major support at 105.00 (midline of the channel)
Keep an eye on how the price reacts at these critical levels. A breakout above 110.00 could lead to new highs, while a failure could mean a potential pullback or consolidation.
Note
A shorter Term view!Note
And two setups for it!Another setup could be set after breaking the red line
Trade closed: stop reached
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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.
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.