This is my overall analysis for AUDJPY with tp hitting around Mar 25. Goodluck!
Note
AUDJPY is currently respecting a strong downtrend structure, rejecting from both a descending trendline and a key horizontal resistance level around 95.26. Price has tapped into a supply zone, showing signs of exhaustion, indicating a potential move lower. This setup aligns with a bearish continuation, targeting the previous swing low near 92.00.The risk-to-reward ratio is favorable, with a tight stop just above the recent high, minimizing potential drawdowns. RSI is hovering near the 50 level, suggesting momentum could shift bearish. As long as price holds below the trendline, I anticipate further downside movement.
Let me know your thoughts on this setup! 🚀📉 #forex #trading #AUDJPY #technicalanalysis
Note
1:3 TP hit and Running 🏃🏃🏃🏃🏃🏃Note
1:4 TP Hit! Taking partials and letting it run
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7+ years of trading experience 📚
Canadian Based 🇨🇦
Learn a structured approach to consistent trading results 🧠💡
Follow me on Insta!
Canadian Based 🇨🇦
Learn a structured approach to consistent trading results 🧠💡
Follow me on Insta!
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.