AUDJPY Potential Bullish Movement Long

Australian Dollar/Japanese YenFXCM

Description

⋅ Mar 23, 2020 7:49 PM

AUDJPY Potential Bullish Movement

we are waiting for a momentum candle close above 65.8 to buy this one

Reason:
1- Inverse Head and Shoulders Pattern (in orange)
2- Objective Trendline (in blue)
3- Support from Daily 60.00 (in purple)

Three confluences are enough to consider Buying AUDJPY, after a break below 65.8 (in gray)

Comments

jforex78

⋅ Mar 25, 2020 11:29 PM

Great setup. Entry seems late.

Do you think this goes up from here again?

TheSignalyst

⋅ Mar 26, 2020 12:35 PM

@jforex78, Right J, maybe this trade is considered late as per some trading styles.

as per my trading style, this one has three confluences to buy after breaking above the inverse head and shoulders neckline. it is a long-term setup as both the stop loss and take profit are somehow big in size.

Let's see how it goes...

Dave-FX-Hunter

⋅ Mar 25, 2020 2:27 PM

Very nice trade analysis, keep it up

TheSignalyst

⋅ Mar 26, 2020 12:36 PM

@DaweFXHunter, thank you Dawe, same to you

transparent-fx

⋅ Mar 23, 2020 10:56 PM

good TA for audjpy, I will be making a breakdown soon

TheSignalyst

⋅ Mar 25, 2020 9:49 AM

@transparent-fx, thank you, best of luck