Potential Buy Setup On AUDJPY
Looking at AudJpy on the daily timeframe, we could notice the bullish structure that has been created. More recently, price has been in a bearish correction movement which potential could be ending soon.
The reason I forecast a bullish continuation is the way market structure is presenting itself for now. Within the last week, we've had a strong bullish push towards the upside while breaking some downtrend structure. This break of market structure could be the buyers way of telling us that they are beginning to step in.
I'll be waiting for a retracement back to the Significant Daily Level, before monitoring bullish rejection for potential buy orders. Just patience and discipline for now.
The reason I forecast a bullish continuation is the way market structure is presenting itself for now. Within the last week, we've had a strong bullish push towards the upside while breaking some downtrend structure. This break of market structure could be the buyers way of telling us that they are beginning to step in.
I'll be waiting for a retracement back to the Significant Daily Level, before monitoring bullish rejection for potential buy orders. Just patience and discipline for now.
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