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UnknownUnicorn2396129

AUDJPY RESISTANCE BREAK AND RETEST - DAILY

Long
Australian Dollar / Japanese Yen (OANDA:AUDJPY)  
UnknownUnicorn2396129 Updated   
OANDA:AUDJPY   Australian Dollar / Japanese Yen
Trend Analysis Support and Resistance Parallel Channel AUDJPY audjpylong audjpydaily audjpyidea audjpyanalysis audjpybuy audjpybreakout audjpyforecast
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trendanalysis supportandresistance parallelchannel audjpy audjpylong audjpydaily audjpyidea audjpyanalysis audjpybuy audjpybreakout audjpyforecast
AUDJPY was travelling in a horizontal channel until we saw a breakout to the upside a few days ago through the resistance zone. Price has now come back down to the 0.382 retracement level of the previous move upwards which is also where the previous resistance zone (now support) is. This indicates price is going up, but where?

Our target is at the top of the descending channel (marked out in thick blue lines) it has been travelling in which nicely lines up with the -0.27 extension level
Comment:
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