Buy opprotunity
Updated
All my targets have been reached (82.000 was missed by 2.5 pips which is fine) and im watching for a pullback to a recent support/resistance level. There was a lot of momentum this past week and audjpy was forming new monthly and weekly highs as of late. Given the circumstances we are in I will not look to sell audjpy because it is not the best choice to make at this time. Recent structure may be found at the 81.500 level or 81.250 level using the quarter point theory. Those will be areas I will be looking to BUY if structure is formed and held as support on the 2-4hr.
Note
Audjpy remains bullish and is now trading just under 82.000 which is a bank level and major QP depending on what methods you use. Rejecting this key level can lead to audjpy falling. Be cautious at this area.Note
Weekly Resistance is 83.00-83.50 and it seems price is on a mission to reach there. Huge impulsive moves like this I wait for pullbacks even if they are small.Note
Price has reached my target and hit 83.150 and has now hit a Weekly Resistance area. Depending on the volume and other confirmations I will still be looking to buy in the areas of 82.650, 82.500, 82.300 seeing as those are retracement levels. Be mindful we are at a strong Resistance so structure will need to be formed to buy here.
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