As we can see from the trendlines and resistance level drawn, we can see price level is squeezing, signalling to us that a breakout will be happening soon. For now, the question will be whether it is heading up or down? Personally, I see more BEARISH potential for AUDJPY as if we do look through 76.58 price level, it a strong resistance level that AUDJPY follows. As of now, we do not see a breakout of 76.58 price level signalling that AUDJPY could possibly move back to its trend support and resistance (Green and Red) as it continues its downward movement. If I am able to see a breakout of this resistance level, I will confidently say that AUDJPY has broken its downward trend and could possibly start a BULLISH trend. For now, I will trade the BEARISH movement till I see a nice breakout. Remember to trade safely and adapt accordingly.
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Thursday 13/8 It was quite a bullish trend yesterday late and it seems to be bearish now but very slowly Thanks for your support What do you think of the trade at this stage ??
YGForex
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@DanielLubbe Seems like it is still holding that level.
DanielLubbe
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I'm bearish in this pair although it is moving very slowly The problem is that AUD/JPY runs hand in hand with NZD/JPY I've seen it again now Aud came down nicely but turn around because NZD went up again I will follow you Hopefully the trend will keep on being bearish Thanks for your time and support
YGForex
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@DanielLubbe, Yes I am seeing uncertainty for JPY pairs we will just adapt accordingly to this level.