FX.co ★ rylee.denesik | AUD/JPY

AUDJPYWishing everyone a great mood! According to my analysis, the linear regression channel on the M15 period has a northern slope, which indicates the prevailing influence of buyers. This may provide opportunities for buying, but the decision to buy should be made with caution. I recommend waiting for the linear regression channel on the hourly chart to also start moving upward before making a decision to buy. I am considering the possibility of buying from the level of 112.657, however I will closely monitor the dynamics of sellers, who may push prices below this level. If prices consolidate below the level of 112.657, this may indicate a continuation of the selling trend on the higher H1 timeframe.

I am analyzing data on the hourly market chart and I see a strong bearish trend. My expectations are to wait for the upper boundary of the channel at 113.464 to be reached in order to sell the asset down to the level of 112.286. A move below the target will be a signal for the continuation of bearish activity. It should be understood that an upward correction to 112.286 may occur, so I am ready to watch the market and quickly change my plan as the situation changes. My main goal is to get a good entry point, which I find near the edges of the linear regression channels, which indicates possible volatility limitations of a particular player. I am always ready to change my plan if the market situation changes, because if the 113.464 level is broken by the bulls, this may be a sign of bullish interest in the market, which may entail a reassessment of the situation and the cancellation of sales.