26.03.202005:35 Forex Analyse & Reviews: AUDJPY broke out of ascending trendline support to the downside! Further drop expected!

Long-term review

Trading Recommendation

Entry: 65.708

Reason for Entry: Long term moving average resistance

Take Profit : 62.930

Reason for Take Profit: 61.8% Fibonacci retracement, graphical swing low

Stop Loss: 66.634

Reason for Stop loss: 61.8% Fibonacci retracement, ascending trendline resistance

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Uitgevoerd door Dean Leo,
Analytische expert
InstaForex Group © 2007-2021

More articles by this author

Terug naar de lijst

Vraag het aan de auteur

E-mail subscription

Benefit from analysts’ recommendations right now

Top up trading account

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.

Daily Video Analysis: GBPJPY trendline bearish breakout, potential for further drop!

Today we take a look at GBPJPY. Combining advanced technical analysis methods such as Fibonacci confluence, correlation, market structure, oscillators and demand/supply zones, we identify high probability trading setups. Price has just seen a bearish breakout from the ascending trendline.

GBPJPY pulling back to ascending trendline resistance!

GBPJPY broke below ascending trendline support (now resistance). A bounce above key swing low support and 1st support at 149.598 towards ascending trendline resistance and 1st resistance at 150.098 could be possible. Stochastic is testing support where price bounced in the past as well. Trading.

AUDCAD facing bullish pressure, potential for more upside!

Prices are facing bullish pressure from ascending trendline support, horizontal swing low support which coincides with 50% Fibonacci extension and 61.8% Fibonacci retracement. Prices might push up further towards 1st resistance, which is a horizontal swing high resistance in line with 78.6%.