Daily on the left creating a series of higher highs and higher lows. Price also crossed above our 21 ma and is looking bullish by the daily closures. Also notice how price managed to break out of consolidation 67.500. If price comes back to retest this area as new support look to buy to 70.000-500 key psychological. If price violates this 67.500 zone, we can potentially see price come down to 64.250. Personally, bullish until then.
Comment:
AUDJPY: Testing 67.500 as anticipated. Now we have a bounce or break situation. If price respects this support then, we can potentially see targets fulfill. However if price breaks this support, then look to sell this down to 64.250 key psych.
Comment:
AUDJPY: Came down to test 67.500 as anticipated and created a triple bottom on the lower time frames. After this price took off 70-80 pips, finding new resistance at 68.500 key psych. On the 4hr time frame price closed off a pinbar rejection candle at 68.000. If price stays above this zone, we are looking to renter and ride price to 70.000 key psychological. However, if price clears 67.500 key support, we must reevaluate price action. Due to uncertainty of market fluidity, risk management is highly recommended.