๐กThe chart shows a technical analysis of the AUDJPY currency pair on the 4H frame. The price broke the previous swing low and gathered liquidity, a common behavior before a reversal.
Emerging Bullish Momentum: After gathering liquidity, the price rose and broke through a previous resistance area, indicating the market's intention to move upward. The green shaded area represents a new support level, which the price could return to and test before continuing its upward trend. MACD Indicator: Demonstrates bullish divergence, as the price was falling while positive momentum began to emerge (green bars), reinforcing the possibility of a continued uptrend.
โ๏ธNot investment advice for educational purposes only.
Emerging Bullish Momentum: After gathering liquidity, the price rose and broke through a previous resistance area, indicating the market's intention to move upward. The green shaded area represents a new support level, which the price could return to and test before continuing its upward trend. MACD Indicator: Demonstrates bullish divergence, as the price was falling while positive momentum began to emerge (green bars), reinforcing the possibility of a continued uptrend.
โ๏ธNot investment advice for educational purposes only.
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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.