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Audjpysetup

AUD/JPY Has Broken ResistanceThis has broken above the previous high and is now retracing back to test it as a support. A long can be entered here if we see the rejection. MACD and EMA's are bullish, especially on the daily timeframe. I have set 2 take profit targets, I originally was only looking to reach TP 2 but that could be too ambitious and who knows what can change in the time it would take to get there. TP 1 is a good target as well and still makes for a good risk/reward ratio.
Long
by olly48
4
AUDJPY 180 pips bounce was expected will it reach September highAUDJPY ********* ⏳H4 chart 🎲 Detailed analysis ⛳️Bullish entry / Alternative bearish entry —————-❇️——————- Detailed analysis 💬 1️⃣ Bullish flag formation 76.000 support 2️⃣ 76.550 October month high 3️⃣ Positive risk sentiment, Vaccine news 4️⃣ 75.800 50% Fibonacci Dynamic support and resistance 5️⃣ 78.450 September high acted as strong resistance-Key trend reversal area 6️⃣ 75.640 Point of control - Volume profile 7️⃣ Technical support - Bullish 8️⃣ 78.450 will acted as key reversal-bearish 9️⃣ AUDPY trading within a broad rising channel 🔟 Possible swing target-78.450 #️⃣ Overall long-term trend- Bullish —————-❇️——————- 📉 Technical bias-Day-Bullish Price is above 50,100,200 Exponential moving average 50 Exponential moving average will act as support-Bullish Relative strength index - well above 60 - Bullish trend MACD -Histogram is still in green zone, Oscillators are pointing upward Stochastic - Reached around 75- overbought condition will give a short term fall back expected Ichimoku cloud -cloud is still red and about to turn as green-Price is well above the cloud Bollinger band- Price reached around the upper side of the band-Short term bearish correction towards middle band was expected —————-✳️——————- Key reversal area's 72.000 psychological level 75.640 Point of control area Volume analysis 78.350 Sep month high 76.200 Break and retest area 78.000 Major psychological level 76.450 Possible entry- Bull 78.350 Sep month high/ Alternative bearish entry —————-✳️——————- [bBullish entry #yen #kiwi #nzdjpy Entry price - 76.450 Take profit 01 - 77.300 Take profit 02 - 78.350 🚫 Stop lose 79.950 ⬆️ 2.49 Growth expected ⤴️ Account growth .65: 2.49 ✅ Risk reward ratio 1 : 3.8 —————-⚜️——————- Push the like button , And cheer up if you found useful
Long
by forexorbit