Categories: Technical Analysis

Will AUDJPY go for another push?

The pair has been on my radar for quite some time now. The plan here is very simple. I think that as long as the price stays above the up trend line we can see bullish continuation. Our trigger should be the break of the resistance zone around 93.40-50 and we can aim to take 94.80 as first target and then possible continue slightly higher.

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Technical Overview:
H4: price is moving inside a pattern, possible wave duplication

Entry:
H4: break and hold above the resistance zone around 93.40-50 should take us higher for wave duplication.
Target 1: 94.80
Target 2: open
Stop Loss: below the broken resistance and up trend line

Video Explanation:

Yours ,
Vladimir

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Vladimir Ribakov

Following 11+ years of trading experience, trading my own accounts as well as for hedge funds and brokerages, I have decided to fulfill my destiny and to personally mentor Forex and Commodities traders. When I released the “Broker Nightmare” (software that hides trades from brokers) 8 years ago, I found an overwhelming number of frustrated people who genuinely wanted to learn how to trade the Forex market, but instead found themselves scammed and misled. Over the years I have also release other trading systems based on my trading strategies, and met a lot of people on my worldwide Forex seminars. We’ve formed a close Forex community and we meet once or twice a year in various locations in Europe.