Market Instrument: AUDJPY
Timeframe: Daily
Analysis: Technical
Structure: Key level, Impulse, and Retracement
Prediction: Bullish
Price got pulled back after the breakout and a rally formed on the key level highlighted. The 4th impulse on this bullish trend is holding the 50% on fib retracement while the price has seated well on the key level we have spotted. If the future price action is willing to make a reversal with a good buying pressure will have a greater chance of seeing the price at 85 where the daily resistance has formed.
Timeframe: Daily
Analysis: Technical
Structure: Key level, Impulse, and Retracement
Prediction: Bullish
Price got pulled back after the breakout and a rally formed on the key level highlighted. The 4th impulse on this bullish trend is holding the 50% on fib retracement while the price has seated well on the key level we have spotted. If the future price action is willing to make a reversal with a good buying pressure will have a greater chance of seeing the price at 85 where the daily resistance has formed.
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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.