🔹AUDJPY Technical Analysis - Bullish Breakout in Progress
▫️The pair has successfully broken above a short-term downward trendline, confirming a strong bullish reversal from the support zone near 93.20. Price is currently retesting the breakout area, which now acts as a support level.
▫️A clean break and hold above the 94.50 resistance zone could open the path towards the next target area near 95.80.
▫️Momentum remains strong, supported by increasing volume and a prior bounce off the demand zone. As long as the support at 93.30 holds, the bullish structure remains intact.
▫️Outlook: Bullish continuation toward 95.80 if 94.50 breaks convincingly.
🔹Community Insight:
If you find this analysis helpful in your trading journey, feel free to share your thoughts or questions in the comments. Let’s work together to maintain a disciplined, technical approach to the markets.
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▫️The pair has successfully broken above a short-term downward trendline, confirming a strong bullish reversal from the support zone near 93.20. Price is currently retesting the breakout area, which now acts as a support level.
▫️A clean break and hold above the 94.50 resistance zone could open the path towards the next target area near 95.80.
▫️Momentum remains strong, supported by increasing volume and a prior bounce off the demand zone. As long as the support at 93.30 holds, the bullish structure remains intact.
▫️Outlook: Bullish continuation toward 95.80 if 94.50 breaks convincingly.
🔹Community Insight:
If you find this analysis helpful in your trading journey, feel free to share your thoughts or questions in the comments. Let’s work together to maintain a disciplined, technical approach to the markets.
▪️Follow for regular updates and trade setups.
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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.
Related publications
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.