A weekly trendline!? I'll take it - AUDJPY Global Trend Analysis
Are this time things gonna be different? Price is moving downwards since 2015 in a weekly timeframe, and seems like nothing is to break this trend for 5 years now. The trendline behaves like a magnet for price but we never saw it breaking it above it. Two scenarios are possible here (not equally likely):
1) Most possible case scenario: Price will continue respecting the trend, especially now the JPY demand starts being high again. Target levels are the previous weekly lows.
2) Not that possible scenario, but still in play: Price will break above this major trendline and it will signal the start of a new phase in this financial market, meaning that the global trend will switch directions, by going higher this time. A break above 77.00 would be a nice signal to go long, generally speaking
Thanks for your time... and think out of the box! :)
1) Most possible case scenario: Price will continue respecting the trend, especially now the JPY demand starts being high again. Target levels are the previous weekly lows.
2) Not that possible scenario, but still in play: Price will break above this major trendline and it will signal the start of a new phase in this financial market, meaning that the global trend will switch directions, by going higher this time. A break above 77.00 would be a nice signal to go long, generally speaking
Thanks for your time... and think out of the box! :)
