AUDJPY is trading in ascending triangle. Price is moving towards the bottom of the triangle.
a) We are expecting a bounce from bottom and will break the resistance zone. Keep in mind ascending triangle is usually a bullish pattern and break above is likely.
b) The bears will turn the table and support will not be enough for bulls. Key level is the rising support, if this is taken out and one should be confortable to short it.
Trade your levels accordingly.
a) We are expecting a bounce from bottom and will break the resistance zone. Keep in mind ascending triangle is usually a bullish pattern and break above is likely.
b) The bears will turn the table and support will not be enough for bulls. Key level is the rising support, if this is taken out and one should be confortable to short it.
Trade your levels accordingly.
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