AUDJPY - We've had get bullish momentum for a while...!
Let's go through some important fundamentals announcements: JAPANESE PM ABE HAS RESIGNED DUE TO HEALTH REASONS.
Now, that drove increased yen and the indices, due to pressure occurring.
Technical aspects of AUDJPY:
We are in a wedge formation, looking at daily chart.
Long term channel bullish
Bears in control: If we exit out of this channel and wedge - wait for pull back to see if it isn't a fake break out and then take the trade going down to the next support areas.
Bulls in control: We exit the wedge formation towards the upside, again wait for the pull back to re-test the wedge then taking the trade towards the next resistance areas or targeting the channel area of resistance.
All the best,
Trade Journal.
(Remember just a trade idea, not a recommendation!)
Let's go through some important fundamentals announcements: JAPANESE PM ABE HAS RESIGNED DUE TO HEALTH REASONS.
Now, that drove increased yen and the indices, due to pressure occurring.
Technical aspects of AUDJPY:
We are in a wedge formation, looking at daily chart.
Long term channel bullish
Bears in control: If we exit out of this channel and wedge - wait for pull back to see if it isn't a fake break out and then take the trade going down to the next support areas.
Bulls in control: We exit the wedge formation towards the upside, again wait for the pull back to re-test the wedge then taking the trade towards the next resistance areas or targeting the channel area of resistance.
All the best,
Trade Journal.
(Remember just a trade idea, not a recommendation!)