AUDJPY: Market Overview and How to Trade
The market will be interesting during the next week. The price bounced from the resistance zone between 76.000 and 75.650 levels. The bearish candle and RSI confirmed the price reversal.
What does it mean for us? It means that we have to search for sell opportunities in hourly timeframes. It will be possible to sell below 75.000 or wait for a pullback to 75.650 zone and sell based on a reversal signals from this zone. The main goal for sellers must be the uptrend line.
If the price drops to the uptrend line, it will be able to buy based on a reversal signal and join to a new uptrend. DMI becomes bullish, and it is going to confirm trend market conditions.
What does it mean for us? It means that we have to search for sell opportunities in hourly timeframes. It will be possible to sell below 75.000 or wait for a pullback to 75.650 zone and sell based on a reversal signals from this zone. The main goal for sellers must be the uptrend line.
If the price drops to the uptrend line, it will be able to buy based on a reversal signal and join to a new uptrend. DMI becomes bullish, and it is going to confirm trend market conditions.
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💎 Share My BEST Trades here 👉 bit.ly/wubits