AUDJPY: The price REACHED a strong RESISTANCE ZONE
Pair Analysis Complete
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🟢Forex Pair:
AUD/JPY
⚪Technical Analysis:
Since the 2nd of February 2021, the price has been following a strong uptrend, re-testing few times its secondary trendline.
Once it reached the main resistance zone at about 82.280, it started a consolidation phase just below that area.
It is currently moving with a clear sidetrend, getting close to its trendline.
🔴Conclusion:
The price definitely reached an interesting resistance zone and considering many rejections in the past, I'm confident to see an upcoming bearish movement.
I'll be waiting for the price action around the trendline and eventually it will break down closing at about 81.715, I'll plan my short position on this trade.
Stay tuned for Updates and Trading Signals!
What's your opinion? Share your idea writing a comment!
⚠️Please note the views are not investment advice and should be used only for educational purposes⚠️
Trade Safe and Responsibly,
Gianni
Hi traders and welcome to my channel, if you enjoy my FREE Technical Analysis📈 and Trading Tips📉, support the idea hitting the LIKE👍 button and don't forget to SUBSCRIBE✔️ my channel, you won't miss anything!
🟢Forex Pair:
AUD/JPY
⚪Technical Analysis:
Since the 2nd of February 2021, the price has been following a strong uptrend, re-testing few times its secondary trendline.
Once it reached the main resistance zone at about 82.280, it started a consolidation phase just below that area.
It is currently moving with a clear sidetrend, getting close to its trendline.
🔴Conclusion:
The price definitely reached an interesting resistance zone and considering many rejections in the past, I'm confident to see an upcoming bearish movement.
I'll be waiting for the price action around the trendline and eventually it will break down closing at about 81.715, I'll plan my short position on this trade.
Stay tuned for Updates and Trading Signals!
What's your opinion? Share your idea writing a comment!
⚠️Please note the views are not investment advice and should be used only for educational purposes⚠️
Trade Safe and Responsibly,
Gianni
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