dawnzul

Long Opportunity for AUD/JPY!

Long
FX:AUDJPY   Dolar Australijski/Jen Japoński
Possible swing for this pair and target and stop losses. Reason for long will be provided below:

1) double bottom formation
- As you can see from the chart, valid double bottom form around 80.00. Reason being the closing of the price doesn't break the previous low. This gives us a confluence in supporting that the price will be bullish.

2) Candles keep congregate at the 80.00 price area which suggest a strong support area which is supported by 0.236 fibs playing as confluence.

3) From the chart itself, we found a strong resistance on 0.5 fibs which is around 0.5 fib ratio.

4) It's currently in consolidation state. The longer the consolidation, the bigger the breakout. Should it breakout from the resistance, there's a potential long to the upside price of 86 which is a previous resistance structure.

Have a good day everyone.Cheers.


Wyłączenie odpowiedzialności

Informacje i publikacje przygotowane przez TradingView lub jego użytkowników, prezentowane na tej stronie, nie stanowią rekomendacji ani porad handlowych, inwestycyjnych i finansowych i nie powinny być w ten sposób traktowane ani wykorzystywane. Więcej informacji na ten temat znajdziesz w naszym Regulaminie.