AUD/JPY Waiting for a Breakout by ThinkingAntsOk

Long

Australian Dollar / Japanese Yen (FX:AUDJPY)

FX:AUDJPY Australian Dollar / Japanese Yen

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trendanalysis supportandresistance mtfa aud jpy audjpy long bullish analysis setup

🔸 DAILY CHART EXPLANATION:
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🔸Price broke the Descending Trendline.
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🔸It is now facing the Resistance Zone .
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🔸If we see a breakout here, the next bullish target is the Resistance Zone at 0.80500. If price bounces, then we will consider a downside move towards the broken Trendline .
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🔸 Will look for a lower timeframe setup.

🔸 4H CHART ANALYSIS:

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Comments

What is number is it that will determine break up and break down? Is it closing at 76 (break down) or 77 (will be considered as a break up) ?

Reply

detailed overview and nice chart. thumbsup!

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