AUDJPY The Lower Highs the key to our trades.
The AUDJPY pair is currently trading on its 1D MA50 (blue trend-line), being the pivot since the price turned sideways during Summer. The long-term trend remains bullish however within a 1 year Channel Up (better viewed with the Fibonacci levels as you see) with the 1D MA200 (orange trend-line) supporting.
Recently it has formed a Lower Highs pattern again with the 90.740 level as the Support. That seems to be consistent with the previous Lower Highs of June-July that broke upwards in late August and hit the 98.700 Resistance. As a result, if the price breaks above the current Lower Highs we expect again a push to the 98.700 Resistance. On the other hand, a break below the Support, would mean a break below the 1D MA200 as well, and that would change completely the trend to long-term bearish.
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Recently it has formed a Lower Highs pattern again with the 90.740 level as the Support. That seems to be consistent with the previous Lower Highs of June-July that broke upwards in late August and hit the 98.700 Resistance. As a result, if the price breaks above the current Lower Highs we expect again a push to the 98.700 Resistance. On the other hand, a break below the Support, would mean a break below the 1D MA200 as well, and that would change completely the trend to long-term bearish.
-------------------------------------------------------------------------------
** Please LIKE 👍, SUBSCRIBE ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support me, keep the content here free and allow the idea to reach as many people as possible. **
-------------------------------------------------------------------------------
You may also TELL ME 🙋♀️🙋♂️ in the comments section which symbol you want me to analyze next and on which time-frame. The one with the most posts will be published tomorrow! 👏🎁
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👇 👇 👇 👇 👇 👇
💸💸💸💸💸💸
👇 👇 👇 👇 👇 👇
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