AUDJPY Price Action Outlook

Hello Price Action Traders.

AUD/JPY

The AUD/JPY is trading sideways since April, failing to break the 96.090 resistance.
That level has been tested nine times and held but bulls are willing to buy dips. Looking at the Price Action, the pair formed a Pin Bar on Friday rejecting the 200 SMA. This might be a clue for a short term trading idea if the price breaks above the candle’s high. Resistance could be found at the 95.180 level.

 

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FROM A REAL TRADER TO REAL TRADERS

Luigi Bazzarelli, Professional Trader member of HereForexNaked.com

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