Daily structure & Double bottom. AUDJPY long coming?
this is what i’m looking at this morning: as you can see on the left hand side of your screen ( ), price is having rough times breaking through 84.50 level. Looking back in the past, you can see this level has played both a role of and this is telling us that it could act again as support. As a confirmation, i went down on lower timeframes (right-hand side: 4H) and i’ve noticed a formation that’s setting up, along with an divergence that’s usually a good sign of reversal. I’m ready to enter this market but i’m waiting for stronger push to definitely go ahead and place an order. I’ll keep you updated.
If you have any idea/question, feel free to comment below.
Otherwise, see you in the next chart!