📈 AUDJPY: Watch This Textbook Bullish Flag Breakout!

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Bullish flags typically typically show some profit-taking after a strong uptrend without any violent selloffs. The pole needs to have an impulsive and violent move upwards. The breakout from the flag should be followed by a volume spike. This is exactly what we have on the AUDJPY

Watch how this plays out in the next few weeks. Learn from it, then do it again on another pair.

Possible max target at 101. Of course, like with any currency or stock, expect bumps and dips along the way. Look for higher lows which would void the bullish flag.

First resistance break (see chart) should cause an impulsive move upwards, as many traders will spot the pattern and FOMO into it.

The lower timeframe shows a nice trend forming. This strong trend can help break resistance faster than expected:

If you don't have experience trading this pattern, it's better to sit this one out and watch it unfold and take notes.

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Comment:

Testing resistance now.