I posted about AUDJPY before and I’m a show in this chart because it has been performing expected. Currently it seems that it is having a retracement and may try to break above the resistance level/ double top that it created. However, it is not clear that it will keep the clean structure that he has right now. Manage risk is a top priority I will keep updating....
I have already written on the chart. As you can see its in an uptrend and it made its previous HH and is retracing to forma new HL. there is lot of volume at the 78.6% level on the fib and it addition to that there is a supply zone if you use that kind of trading method. That counts as 3 solid confirmation but be advise this is just my thought process when trading...
There is lot of volume plus supply area. I think it’s just a matter of time until we see this happening. All feedbacks are welcome since this is the first time I’m posting something. :)