A review of the most interesting trading opportunities is a daily cycle of analyzes under the patronage of the FX88 broker, where we present the most interesting possible Price Action setups.
Risk notice: Transactions on Forex and CFDs can lead to the loss of all invested capital. Please note that FX88 is not responsible for the preparation of materials for this article or any other materials related to this article. The materials from the article are for informational purposes only and the information contained therein is not an investment advice and should not be interpreted as such.
AUDJPY
The exchange rate of the AUDJPY from mid-February this year. moves in a horizontal trend. Due to ever lower lows and ever-higher lows, instead of the classic consolidation, we are creating here a triangle formation. Looking at the H4 chart, we notice that as a result of the last week’s increases, the rate has once again reached the line of the downward trend that is the upper limit of the above-mentioned formation. The appearance of a strong supply reaction here and a permanent rejection of this resistance could open again the way for declines on this instrument.
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