ForecastCity

Don't miss the great sell opportunity in AUDJPY

Short
FX:AUDJPY   Australian Dollar / Japanese Yen
Trading suggestion:
. There is still a possibility of temporary retracement to suggested resistance line (69.25). if so, traders can set orders based on Price Action and expect to reach short-term targets.

Technical analysis:
. AUDJPY is in a range bound and the beginning of downtrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 32.

Take Profits:
TP1= @ 67.65
TP2= @ 66.42
TP3= @ 64.82

SL: Break Above R2
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Comments

Dear All,
I'm a newbie, pls help me.
Now(Market is closed), i can set a order Sell at below 69.25(ex:69.15), with SL= above 70.16(ex:70.26) and TP1. Is this correct?
+5 Reply
ForecastCity bitcoinnever8
@bitcoinnever8, Thanks for your comment. we hope you find this idea helpful.
Reply
lukemortlock bitcoinnever8
@bitcoinnever8 correct. We are looking to see price return back to the proposed resistance level before bouncing off and continuing to the downside. Sometimes waiting for this touch of support/resistance means you’ll miss the boat but it is important to have as many confluence as possible to make the best possible estimation on what the market is doing
Reply
bitcoinnever8 lukemortlock
@lukemortlock, Thank you so much.
Reply
ForecastCity lukemortlock
@lukemortlock, Thanks for sharing your point of view with us. 🙏
Reply
Yes pls i want!!!
+3 Reply
ForecastCity danial1999
@danial1999, Thanks for your comment. 🙏
Reply
Thank you again for sharing your ideas.
+3 Reply
ForecastCity Alexander_007
@Alexander_007, You're welcome. we hope you find it helpful.
Reply
You are a super star in tradingview. Really 🥰 I couldn't see anyone here like you guys. 💎💎💎
+2 Reply
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