Vantage FX
VantageFx Representative
- Messages
- 174
Chart of the Day:
If you’ve been following the Vantage FX blog, then you will have seen the AUD/JPY chart of the day that we featured a few weeks ago.
“Zooming out to the daily and we can see that price smashed through the 100 SMA that we were watching last week, and looks like it is reaching for channel resistance. I have re-drawn the horizontal support/resistance line to take in the spikes and we now have a nice confluence of possible resistance from which to take trades from.”
AUD/JPY Daily:
Click on chart to see a larger view.
A clean rejection off channel resistance sees price now testing short term support. Was this bullish move just a counter-trend, flag pattern?
Do you see opportunity trading AUD/JPY?
If you’ve been following the Vantage FX blog, then you will have seen the AUD/JPY chart of the day that we featured a few weeks ago.
“Zooming out to the daily and we can see that price smashed through the 100 SMA that we were watching last week, and looks like it is reaching for channel resistance. I have re-drawn the horizontal support/resistance line to take in the spikes and we now have a nice confluence of possible resistance from which to take trades from.”
AUD/JPY Daily:
Click on chart to see a larger view.
A clean rejection off channel resistance sees price now testing short term support. Was this bullish move just a counter-trend, flag pattern?
Do you see opportunity trading AUD/JPY?