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AUDJPY forming a bullish patternThis is an update of the AUDJPY pair on my previous sell signal upon the 1D RSI Resistance rejection, as illustrated below: With the price now recovered from the sub 88.000 level, the pair is waving a buy signal as it broke above both the 1D MA50 (blue trend-line) and the 0.618 Fibonacci retracement level. Since it started trading on this long-term Fibonacci Channel back in 2020, this break-out combination has only happened twice (see the circles) and on both cases after a short-term pull-back, the price rallied strongly. For example see late June 2021, where the price failed to break above the 1D MA50 and 0.618 Fib. Consider also the important of the 1D RSI Symmetrical Zone. The RSI is now exactly on the same level (flag symbol) that it was during those two break-outs I mentioned (mid November 2020 and early January 2022). This further suggests that we may be replicating currently that exact same bullish pattern. -------------------------------------------------------------------------------------------------------- Please like, subscribe and share your ideas and charts with the community! --------------------------------------------------------------------------------------------------------
Long
by TradingShot
6
CADJPY: Classic Trend-Following Setup 🇨🇦🇯🇵 Hey traders, CADJPY is trading in a long-term bullish trend. Reaching a new high the market started a correctional movement. For more than a month, the pair was steadily falling within a bullish flag pattern. Yesterday, its resistance was finally broken. I believe that such a breakout may initiate a bullish trend continuation. Goals: 102.7 / 104.5 ❤️If you have any questions, please, ask me in the comment section. Please, support my work with like, thank you!❤️
Long
by VasilyTrader
4
EURJPY Key trading levelsThe EURJPY pair is trading around the 1D MA50 (blue trend-line) being within a Channel Down pattern since the April 21 High. Coming off a Bearish Megaphone, this is similar to the Channel Down of September - November 2020, which was nothing more than a big Bull Flag on its way to a strong uptrend. If the pattern continues to be repeated, then the price should post one last Lower Low near the 1D MA200 (orange trend-line) and then rebound towards the 140.000 High of April. If however the 137.00 Resistance breaks first, this Lower Low is invalidated. Notice also that the MACD is currently on a Bullish Cross. -------------------------------------------------------------------------------------------------------- Please like, subscribe and share your ideas and charts with the community! --------------------------------------------------------------------------------------------------------
by TradingShot
4