Yemi_Fx1 | BEARISH SETUP ON AUDJPY
Maintaining a sell bias on AUDJPY based on the presence of a well-defined sell structure.
On the 1-hour timeframe (1HTF) shows the bearish bias is further supported by a potential continuation pattern in the form of an ascending wedge, with price currently testing resistance.
Be aware that today's high-impact Non-Farm Payroll (NFP) data release could cause price to break out of the ascending wedge resistance before moving in it main direction.
I anticipate a potential third touch of the ascending wedge's resistance. If price rejects this level, we can look for a confirmation shorting signal(A flag )on a lower timeframe (e.g., 15-minute chart) to enter the trade.
If you found this helpful please support your fellow trader with a like .
On the 1-hour timeframe (1HTF) shows the bearish bias is further supported by a potential continuation pattern in the form of an ascending wedge, with price currently testing resistance.
Be aware that today's high-impact Non-Farm Payroll (NFP) data release could cause price to break out of the ascending wedge resistance before moving in it main direction.
I anticipate a potential third touch of the ascending wedge's resistance. If price rejects this level, we can look for a confirmation shorting signal(A flag )on a lower timeframe (e.g., 15-minute chart) to enter the trade.
If you found this helpful please support your fellow trader with a like .
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