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.

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

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.

Recent Posts

Why Winning Trades Can Sometimes Make Traders More Dangerous

A winning trade feels good. A series of winning trades feels even better. Confidence increases.…

2 days ago

Forex Weekly Forecast: EUR/USD, USD/JPY, NZD/USD & Gold – Key Trading Opportunities

The Forex and commodities markets are entering an interesting phase, with renewed inflation concerns, expectations…

5 days ago

Hawkish vs Dovish: How Central Banks Language Moves Forex

Central banks do more than change interest rates. They also influence financial markets through the…

1 week ago

Why Good Economic News Can Sometimes Make a Currency Fall

When traders first learn fundamental analysis, one of the easiest assumptions to make is: Good…

2 weeks ago

What Is Spread in Forex? How Trading Costs Affect Your Profits

When you open a Forex trade, you may be focused on one thing: Will price…

2 weeks ago

Forex Trading Sessions Explained: The Best Times to Trade London, New York, and Asia

The Forex market is open around the clock during the trading week, but that does…

3 weeks ago