AUDJPY - Looking for longs (just an idea - longer timeframe)
There is a lot in play here and its not the cleanest of charts so apologies for that
A shorter term bullish trend line has emerged which broke through a solid Resistance area (Area 1)
With this bullish trend, price looks to be attempting to close above a longer term downward trend.
We are looking for a few solid 4hr closes above the longer standing downward trendline (KEY AREA - AREA 2), this will then validate a long position with a target of 79.350 (+130ish pips)
We also have a 20/50 EMA crossover + Price trading above 100 EMA
A shorter term bullish trend line has emerged which broke through a solid Resistance area (Area 1)
With this bullish trend, price looks to be attempting to close above a longer term downward trend.
We are looking for a few solid 4hr closes above the longer standing downward trendline (KEY AREA - AREA 2), this will then validate a long position with a target of 79.350 (+130ish pips)
We also have a 20/50 EMA crossover + Price trading above 100 EMA
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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.