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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