AUDJPY: Potential BEARISH Continuation!
Hello, everybody and welcome to Cybernetics Trading Lab, today we are going to analyse the AUDJPY, translating the market information by using a full technical analysis on different time frames, giving you a personal opinion about the next most likely market movement and helping you to spot and manage market opportunities.
Higher timeframe:
Lower timeframe:
In HTF, this market reached its previous swing, clearly forming a double top, approaching on it with a corrective movement, which we can see better with a quick look on the lower timeframe, where the market formed a rising wedge just around the area of its previous swing.
More bearish confluences are still in line with our overall bias, a reversal sharp bearish impulse proceeded to break the structure to the downside, and the first correction after breakout was an interesting bearish opportunity!
When, where and why would we step into the market?
AUDJPY is currently creating a potential more continuation, the next week will be interesting to see how it will develop and if it will give us a deeper correction enough for another push to the downside.
If you enjoy this trade idea, please support our work with a thumb up and don’t forget to follow our social medias!
Sincerely,
Cybernetics Trading Lab
DISCLAIMER
Please note the views are not investment advice and should be used only for educational purpose.
Higher timeframe:
Lower timeframe:
In HTF, this market reached its previous swing, clearly forming a double top, approaching on it with a corrective movement, which we can see better with a quick look on the lower timeframe, where the market formed a rising wedge just around the area of its previous swing.
More bearish confluences are still in line with our overall bias, a reversal sharp bearish impulse proceeded to break the structure to the downside, and the first correction after breakout was an interesting bearish opportunity!
When, where and why would we step into the market?
AUDJPY is currently creating a potential more continuation, the next week will be interesting to see how it will develop and if it will give us a deeper correction enough for another push to the downside.
If you enjoy this trade idea, please support our work with a thumb up and don’t forget to follow our social medias!
Sincerely,
Cybernetics Trading Lab
DISCLAIMER
Please note the views are not investment advice and should be used only for educational purpose.
This market performed more development during the week and it may be ready soon for its next drop. However, no action has been taken yet!