AUDJPY may breathe to the upside

FX:AUDJPY   Australian Dollar / Japanese Yen
Hey guys,
one of my usual analysis here. The blue box you see on the chart is a support zone drawn on the daily timeframe . That's important because i knwo that i'm looking to long as long as we are in the structure zone, not above, not below. And it is also important to place the right stop loss limit, for i know i'm wrong as soon as price breaks to the downside.
However, on the Daily chart i've also drawn a Cypher pattern that's already completed.
As we go down on the 4hr you can see some divergence on the RSI and a psychological level that could act as support as well.
The last sign is represented by the engulfing candle.
I'm waiting for a little pullback to enter.
Let's see.

If you want to share your thoughts or ask questions, feel free to comment below.
Otherwise, see you in the next chart!
Comment: Sorry guys, "Indizi" stands for "Clues". I mistakenly used Italian.
Trade active
Comment: 2618:
Trade closed: target reached: First target hit! Stops at breakeven.
Comment: Stop moved to 84,35
Comment: Target2 hit but not filled due to spread. Let's see: getting out now has no sense, i'll wait. If price comes up again to retest i may consider to exit my position, otherwise, i'll be stopped out with a smaller (but important) gain!
Comment: Second target moved to 85,40
Trade closed: target reached: Second target just hit at 85,40! +200 pips in total!
Se sei d'accordo, lascia un mi piace! Grazie
Canale Italiano:
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