AUDJPY Update.
AUDJPY has formed an ascending channel which it has been respecting for quite a while now. Seems this pair had faked out to the downside and rallied to test previous resistance (now turned support). AUDJPY is currently at the aforementioned support level (both the previous resistance level and the ascending channel's support trend line). A daily close above these support levels could give off long opportunities. Entry point 81, Stops 80.50 and Target 82.
N.B. Trading ideas are subjective. Individual analysis adviced.
AUDJPY has formed an ascending channel which it has been respecting for quite a while now. Seems this pair had faked out to the downside and rallied to test previous resistance (now turned support). AUDJPY is currently at the aforementioned support level (both the previous resistance level and the ascending channel's support trend line). A daily close above these support levels could give off long opportunities. Entry point 81, Stops 80.50 and Target 82.
N.B. Trading ideas are subjective. Individual analysis adviced.