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Audjpy-short

AUDJPY touched RESISTANCE zone and FALL In my previous forecast, we expected the price to rise from the support line to the resistance, and as we can see, the price really showed a strong growth over the last month. From the support line at 77.74, it moved up to the resistance zone of 80.96. This is a strong zone formed by two lines. The first line is the youngest, appeared on the chart in 2019, the second is older, formed at the highs of the chart since 2014. After the first touch of the zone, the price bounced back and began to fall, but immediately corrected to the zone again. I now expect a fall for two main reasons. First, the price will not be able to break through such a strong zone. Secondly, one should take into account the strong growth preceding this and the breakdown of the support line, after which the price has no resource left and there is no strong enough support for growth. Therefore, the final target that I now expect is the 78.30 support line. Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻
Short
by Lingrid
7
AUDJPY line and SIGNALSSo let's start LEARNING. On the chart in the description, we see a good example of a strong resistance line. You can see how the price perfectly touches the given line and then reverses. This line is very important for us today because the price is currently near it. Next, go to the 4TF chart and see the perfect deal. We put SL above the resistance lines and TP to the nearest support line. Traders, if you like this idea or have your own opinion about it, write in the comments. I will be glad👩‍💻
Short
by Lingrid
8
How to make a Top/Down Analysis? Full Explanation on AUD/JPYGood morning traders! We want to share how we carry out a complete top and bottom analysis to look for an opportunity to enter a trade. Step number one is to go to a high timeframe. In this case, we begin by analyzing the Weekly Chart. 🔸What do we observe here? 🔸The first thing we see is that the price is in a bearish channel since 2014. Every time the price retested the Descending Trendline, it was rejected. Right now the same thing is happening, so we can consider a potential bearish move, at least in the short term. 🔸Obviously, we need more confirmations. 🔸For this, we reduce the timeframe to 4H, and look for the most relevant support and resistance zones. The price is resting in a relevant resistance zone, which supports our bearish view. 🔸And finally, on the one-hour chart, we see that the trend line of the last bullish move was penetrated down after support at Resistance. Also, there is a corrective move. Considering that the current correction is correcting the first bearish impulse, we can expect a bearish continuation of the same proportion as the first impulse. 🔸All this scenario is valid as long as the Resistance zone is not rotated upwards.
Short
by ThinkingAntsOk
4