AUDJPY Analysis on H4 Timeframe: 📈
EMA89 and Price Position:
The price is currently below the EMA89, indicating the dominance of a downtrend.
Price Pattern:
The market is forming lower lows and lower highs, but there seems to be weakening selling pressure.
Key Buy Zone:
The price is approaching a significant buy zone around 95.5 - 95.7, where potential support may emerge.
Trading Strategy:
The plan is to wait for a Buy opportunity as the price approaches the key zone of 95.5 - 95.7.
Set the Stop Loss at 95.3 to protect below the identified support level.
The Target is anticipated around 96.5 - 97.5.
Important Note:
Monitor price reaction closely as it approaches the support zone, ensuring signs of strong support before executing the Buy order.
Remember, trading always involves risks, and risk management is crucial. Adhere to your trading plan and monitor market developments. Wishing you successful trades! 🚀💹 #AUDJPY #MarketAnalysis #ForexTrading
EMA89 and Price Position:
The price is currently below the EMA89, indicating the dominance of a downtrend.
Price Pattern:
The market is forming lower lows and lower highs, but there seems to be weakening selling pressure.
Key Buy Zone:
The price is approaching a significant buy zone around 95.5 - 95.7, where potential support may emerge.
Trading Strategy:
The plan is to wait for a Buy opportunity as the price approaches the key zone of 95.5 - 95.7.
Set the Stop Loss at 95.3 to protect below the identified support level.
The Target is anticipated around 96.5 - 97.5.
Important Note:
Monitor price reaction closely as it approaches the support zone, ensuring signs of strong support before executing the Buy order.
Remember, trading always involves risks, and risk management is crucial. Adhere to your trading plan and monitor market developments. Wishing you successful trades! 🚀💹 #AUDJPY #MarketAnalysis #ForexTrading