RealistFX

AUDJPY - WEEKLY PREDICTION

Long
OANDA:AUDJPY   Australian Dollar / Japanese Yen
We're long now!

Closing above 74.60 was key to seeing the Double Bottom validated and not just consolidation and weekly support.

Now we've had multiple bullish daily closes (good size candles as well), we have confirmation of the Double Bottom off that order block at 74.20 and are looking for buys to add to our current open position (running around 2%).

Targets?
1st target is the daily resistance and this is where price could begin to consolidate or bounce off in the short term, especially given the current climate with risk changing every session.

Target 2 is the actual completion of the Double Bottom pattern, which is the extension above the neckline, which lines up perfectly with the previous highs created in August

Comments

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