Hello Legendary traders,
Are we ready for the third trading week of March?
Auuu, Auuuu, Auuuuuu…
That’s the spirit lads…
Let’s hit our charts
1. AUD/JPY
The Bears at resistance level 79.000 on the AUD/JPY may be getting ready for another breakout or a rebound.
Looking closely at the 4-hour time frame, we will realise that resistance level 79.404 was the fourth rejection on the descending trendline. A breakout at the current support level may further take price to its next possible support level (78.376).
A rejection of price at the current support level could also take price to a resistance level (79.377) caused by a familiar trendline.
What’s your analysis on this pair?
