September 13 Chart of the Day - AUD/JPY
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Today we'll take a look at the Forex pair AUD/JPY. We can see on the weekly chart that price has steadily been making a series of higher highs and higher lows since April 2020.
During its ascent price has risen from 60 to nearly 100. But is it running out of steam?
Perhaps but not necessarily...
On the daily chart we can see that price has been consolidating within a wedge while it determines which way it wants to break.
Using Support/Resistance, Trend, and Fibonacci there have been plenty of opportunities to trade and/or invest in this chart. And we anticipate that scenario to continue.
As we typically do, we've identified levels of interest in both directions.
So what's next?
We don't make predictions...
Nobody knows for sure but using these 5 price action tools traders and investors can develop levels of interest in both directions.
- Support/Resistance
- Trend
- Fibonacci
- Supply/Demand Zones,
- Change Control Zones
Take a look at the charts and let us know what you think.
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