AUDJPY - Update 3: Patience is Key
Following last weeks RBA news and the market confluences we saw #audjpy break out the bearish trend its been in since September 2022 with a short bull rally in October 2022 then retesting the 95.00 area before eventually dropping back down into the 92.00 area we are currently sitting near.
Since breaking out the zone we have now had 3 daily candles attempt to gain further bullish momentum by touching 93.00 only to be resisted by the 92.70 price which is a previous swing S&R.
The aim of the game in this scenario with it sitting on a respective 50% level to be patient and wait to see what the market gives us after the opening next week, will the buyers take control and force a squeeze up and past 93.00 or will we again retest and pull back to the next S&R or respective level.
Since breaking out the zone we have now had 3 daily candles attempt to gain further bullish momentum by touching 93.00 only to be resisted by the 92.70 price which is a previous swing S&R.
The aim of the game in this scenario with it sitting on a respective 50% level to be patient and wait to see what the market gives us after the opening next week, will the buyers take control and force a squeeze up and past 93.00 or will we again retest and pull back to the next S&R or respective level.
