nikitafen46
Long

AUDJPY Long Term Channel Broken - buy?

FX:AUDJPY   Australian Dollar/Japanese Yen
Nothing lasts forever, especially supports and resistances. The red channel resistance trendline was broken as a result of the US election. And although I was looking forward to another short position on this pair, traders must always be adapting to the circumstances of the Forex Market .

The extremely long lower shadow suggests buying pressure from the bulls. Probably a trade for next week, with a time range of about 2 to 3 weeks for price to reach either the Target or Stop Loss.
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