AUDJPY Idea
Hello Traders!
Similar to the NZDJPY, we are at a major resistance level at the 68.5.
On March 20 we broke this level, did a retest and fell another 800 pips to the downside which is a major drop.
At the 66.5 level we have our 61.8% Daily Retracement that aligns perfectly with the W pattern neckline.
I will be looking for bearish price action next week to enter a short trade setup.
If it does not happen, i will look to sell on the next resistance at 70.2.
Thank you :D
Similar to the NZDJPY, we are at a major resistance level at the 68.5.
On March 20 we broke this level, did a retest and fell another 800 pips to the downside which is a major drop.
At the 66.5 level we have our 61.8% Daily Retracement that aligns perfectly with the W pattern neckline.
I will be looking for bearish price action next week to enter a short trade setup.
If it does not happen, i will look to sell on the next resistance at 70.2.
Thank you :D
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.