AUDJPY Technical Outlook
๐ฅMarket is trading in a falling parallel channel on the 4h timeframe and approaching it's resistance level.
I can see 2 options to enter the market.
Bullish
If the price breaks and closes above the resistance of the channel, it may initiate a bullish continuation.
๐ฏTargets: 93.700, 94.00
Bearish
The market may also drop from the vertical resistance. To short with a confirmation, watch a bearish flag pattern on the 4H timeframe.
It's bearish breakout will trigger a bearish continuation.
๐ฏTargets: 91.500, 91.600
๐ฅMarket is trading in a falling parallel channel on the 4h timeframe and approaching it's resistance level.
I can see 2 options to enter the market.
Bullish
If the price breaks and closes above the resistance of the channel, it may initiate a bullish continuation.
๐ฏTargets: 93.700, 94.00
Bearish
The market may also drop from the vertical resistance. To short with a confirmation, watch a bearish flag pattern on the 4H timeframe.
It's bearish breakout will trigger a bearish continuation.
๐ฏTargets: 91.500, 91.600