Two Sell opportunities on this chart for AUDJPYMid-Term Forecast
Trading suggestion:
. There is still a possibility of temporary retracement to suggested resistance line (76.1). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. AUDJPY is in a range bound and the beginning of downtrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 40.
Take Profits:
TP1= @ 75.10
TP2= @ 74.40
TP3= @ 72.50
TP4= @ 70.00
TP5= @ 67.60
SL: Break Above R2
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Short-Term Forecast
Trading suggestion:
. There is still a possibility of temporary retracement to suggested resistance line (76.05). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. AUDJPY is in a range bound and the beginning of downtrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 30.
Take Profits:
TP1= @ 75.11
TP2= @ 74.42
TP3= @ 72.50
TP4= @ 72.50
TP5= @ 71.86
SL: Break Above R2
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