AUDJPY Awaiting for clean breakout for opportunity
AUDJPY has been on the uptrend since 18 March 2020, the significant day that took reversal.
Price has once topped at 76.78
- The price is now at hard resistance area at 75.00, also serve as a mental resistance.
- The price has been travelling on the rising trendline
- The previous broke of 75.00 in H4 formed a doji
What I will do:
1. Wait for the confirmation for breakout, a clean breakout up to 75.00 'Range 1' we can follow the wave that may go up to 76.50 as last high serve as resistance
2. Wait for the confirmation for breakout of the rising trendline and travels in 'Range 2', we can follow the wave that may go down to 73.10 area
Price has once topped at 76.78
- The price is now at hard resistance area at 75.00, also serve as a mental resistance.
- The price has been travelling on the rising trendline
- The previous broke of 75.00 in H4 formed a doji
What I will do:
1. Wait for the confirmation for breakout, a clean breakout up to 75.00 'Range 1' we can follow the wave that may go up to 76.50 as last high serve as resistance
2. Wait for the confirmation for breakout of the rising trendline and travels in 'Range 2', we can follow the wave that may go down to 73.10 area