AUDJPY a pullback and bullish continuation the week of 11 Jan
My weekly chart gives an overview of PA for the last 4 years. The trend is clearly bullish now and 2 areas of support are marked. As many as 9 out of the preceding 10 weekly candles are bullish and we can expect a pullback.
Recent price action can be seen in the daily chart – nicely moving in an ascending channel, now at the top of this channel. I expect a pull back to either the 80.00 level or a bit lower to the s/r zone (78.80 – 78.15). For target, I would look at the area a bit below the 84.00 round number. Either way, this should be a trade with a nice R/R.
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As always, please use sound money and risk management in all your trades.
Recent price action can be seen in the daily chart – nicely moving in an ascending channel, now at the top of this channel. I expect a pull back to either the 80.00 level or a bit lower to the s/r zone (78.80 – 78.15). For target, I would look at the area a bit below the 84.00 round number. Either way, this should be a trade with a nice R/R.
If you like my analysis please give it a “thumbs up” and follow me to get immediate notifications.
As always, please use sound money and risk management in all your trades.
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