AUDJPY Triangle Breakdown: Retracement Before Deeper Drop
AUDJPY Triangle Breakdown: Retracement Before Deeper Drop
Two days ago, AUDJPY broke down from a well-defined triangle pattern, triggering a bearish move.
However, the JPY remains fundamentally weak, driven more by speculative headlines than a normal strength.
This imbalance suggests that AUDJPY could retrace higher, potentially reaching 95.40 before resuming its downward trajectory toward 94.00 and 92.70.
On the macro front, Australia continues to show signs of economic improvement, which adds resilience to the AUD. Given this backdrop, a sharp decline may be limited unless broader risk sentiment shifts.
You may find more details in the chart!
Thank you and Good Luck!
PS: Please support with a like or comment if you find this analysis useful for your trading day
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
Two days ago, AUDJPY broke down from a well-defined triangle pattern, triggering a bearish move.
However, the JPY remains fundamentally weak, driven more by speculative headlines than a normal strength.
This imbalance suggests that AUDJPY could retrace higher, potentially reaching 95.40 before resuming its downward trajectory toward 94.00 and 92.70.
On the macro front, Australia continues to show signs of economic improvement, which adds resilience to the AUD. Given this backdrop, a sharp decline may be limited unless broader risk sentiment shifts.
You may find more details in the chart!
Thank you and Good Luck!
PS: Please support with a like or comment if you find this analysis useful for your trading day
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
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🎯From our analysis on AUDJPY the price increased as expected to 95.40 and already reached the bullish target
Watch for potential reversal signs near to our reversal zone as I explained earlier.
The price already reacted well but again the risk remains high as we are at a moment with low volume indicated by the summer season, making difficult a change in trend
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✅MY FREE Signals Channel
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✅Personal Telegram
t.me/KlejdiCuni
✅Suggested News Channel
t.me/ForexNewsNavigator_Official
✅MY Recommended Broker is TRADE NATION
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t.me/TradingPuzzles
✅Personal Telegram
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✅Suggested News Channel
t.me/ForexNewsNavigator_Official
✅MY Recommended Broker is TRADE NATION
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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.