AUDJPY;RETEST AND CONTINUATION LOWER
HELLO TRADERS
Before we take a look at audjpy first lets talk about the YEN index JPY
as we know JXY has ben very bearish for the past few months but recently we have seen increase in strength and we can see that big platers (hedge funds) are clossing masively the shorts they had in JXY as we can see in the COT data that they closed 12,000 past week and 40,000 last month shorts which is relatively alot ,this should start to show change in direction to the upside which should be bearish for all jpy pairs
now back to AUDJPY
after breaking below and retesting this resistance we expect a continuation lower to 93.000
BREAK ABOVE 94.4 WILL MAKE THIS ANALYSIS INVALID
IF YOU FIND THIS IDEA VALUABLE BOOST IT TO REACH MOREA TRADERS
GOOD LUCK
Before we take a look at audjpy first lets talk about the YEN index JPY
as we know JXY has ben very bearish for the past few months but recently we have seen increase in strength and we can see that big platers (hedge funds) are clossing masively the shorts they had in JXY as we can see in the COT data that they closed 12,000 past week and 40,000 last month shorts which is relatively alot ,this should start to show change in direction to the upside which should be bearish for all jpy pairs
now back to AUDJPY
after breaking below and retesting this resistance we expect a continuation lower to 93.000
BREAK ABOVE 94.4 WILL MAKE THIS ANALYSIS INVALID
IF YOU FIND THIS IDEA VALUABLE BOOST IT TO REACH MOREA TRADERS
GOOD LUCK
Trade attivo
PENDING SELL ENTRY AT 94.000
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