FenzoFx—AUD/JPY is bullish, currently testing the critical resistance and order block at 97.3. This level coincides with the VWAP and volume profile point of interest. Bears are interested in adding short positions at the 97.3 price level.
Since this level is highly important and has the potential to change the trend, it is necessary to form a double top at this price, which has not happened before.
From a technical perspective, if a double top pattern forms at 97.3 and this level holds, a new bearish trend will likely emerge. In this scenario, the 93.9 level is likely to be targeted.
Since this level is highly important and has the potential to change the trend, it is necessary to form a double top at this price, which has not happened before.
From a technical perspective, if a double top pattern forms at 97.3 and this level holds, a new bearish trend will likely emerge. In this scenario, the 93.9 level is likely to be targeted.
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Knowledge Should Be Free – And So Is Your Path to Trading Success.
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.