AUDJPY (Daily): The Last ASCENDING CHANNEL RETRACEMENT
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TECHNICAL ANALYSIS:
Since the end of November 2020, the price has been following a strong uptrend, bouncing many times on the dynamic S/R Level.
The price just got an interesting and important weekly resistance area and the next price action will be absolutely useful to understand the next market's movement.
CONCLUSION:
I think the market could get a short retracement trying to reach the dynamic support level of the ascending channel.
The price is overbought and during the last two days it showed a strong momentum. It could finally be the right moment of this market's inversion.
Stay tuned for updates!
What's your opinion? Share your idea writing a comment!
Trade Safe and Responsibly
Gianni
TECHNICAL ANALYSIS:
Since the end of November 2020, the price has been following a strong uptrend, bouncing many times on the dynamic S/R Level.
The price just got an interesting and important weekly resistance area and the next price action will be absolutely useful to understand the next market's movement.
CONCLUSION:
I think the market could get a short retracement trying to reach the dynamic support level of the ascending channel.
The price is overbought and during the last two days it showed a strong momentum. It could finally be the right moment of this market's inversion.
Stay tuned for updates!
What's your opinion? Share your idea writing a comment!
Trade Safe and Responsibly
Gianni
