AUDJPY Technical Outlook
Market is trading in a falling parallel channel on the 4h timeframe and approaching it's resistance level .
I can see 2 options to enter the market.
Bullish
If the price breaks and closes above the resistance of the channel, it may initiate a bullish continuation.
Targets: 93.700, 94.00
Bearish
The market may also drop from the vertical resistance. To short with a confirmation, watch a bearish flag pattern on the 4H timeframe.
It's bearish breakout will trigger a bearish continuation.
Targets: 91.500, 91.600
Disclaimer: The views expressed are solely those of the author and do not represent the official position of Followme. Followme does not take responsibility for the accuracy, completeness, or reliability of the information provided and is not liable for any actions taken based on the content, unless explicitly stated in writing.
Like this article? Show your appreciation by sending a tip to the author.
Leave Your Message Now