Hello Traders!
We're currently watching a textbook breakout setup forming on the AUD/JPY . After a prolonged consolidation phase, price has finally broken out of the descending trendline that has held for weeks.
🔍 Key Observations:
Consolidation Zone: Price moved sideways within a defined range, building up pressure.
Trendline Break: A clean breakout above the downtrend indicates momentum shift.
Resistance Level at 93.86: A crucial level to watch for confirmation.
Target Level: 95.62 – a significant resistance zone from previous highs.
📊 Trade Idea:
Buy above 93.86 once we see a strong retest or bullish confirmation.
Targets: 95.00 and 95.62.
Stop Loss: Below 93.30 (or as per your risk strategy).
⚠ Risk Management is Key! Always use appropriate stop losses and calculate position sizes based on your risk profile.
Let me know your thoughts below ⬇ Will AUD/JPY explode to 95.60? 🚀
#AUDJPY #Forex #BreakoutTrading #TechnicalAnalysis #TradingSetup #PriceAction
We're currently watching a textbook breakout setup forming on the AUD/JPY . After a prolonged consolidation phase, price has finally broken out of the descending trendline that has held for weeks.
🔍 Key Observations:
Consolidation Zone: Price moved sideways within a defined range, building up pressure.
Trendline Break: A clean breakout above the downtrend indicates momentum shift.
Resistance Level at 93.86: A crucial level to watch for confirmation.
Target Level: 95.62 – a significant resistance zone from previous highs.
📊 Trade Idea:
Buy above 93.86 once we see a strong retest or bullish confirmation.
Targets: 95.00 and 95.62.
Stop Loss: Below 93.30 (or as per your risk strategy).
⚠ Risk Management is Key! Always use appropriate stop losses and calculate position sizes based on your risk profile.
Let me know your thoughts below ⬇ Will AUD/JPY explode to 95.60? 🚀
#AUDJPY #Forex #BreakoutTrading #TechnicalAnalysis #TradingSetup #PriceAction
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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.
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.