Market Update: USDJPY & AUDUSD – Oct 23rd, 2024

NOTE: This Market Newsletter is developed by using Daily Chart Time Frame, and a relevant price chart is attached to each market.

USDJPY: Buying On Retracement Lower & After Price Action Signal, Whilst Price Remains Above 149.40 Support Level

Comments: Price exploded higher from the most recent Bullish Multi-Bar Fakeout Setup that had formed on Monday, Oct 21st (We did not consider trading this setup).

Price moved significantly higher from the recent Inside Bar Pattern that had formed on Wednesday, Oct 16th (We suggested buying the breakout of this Pattern on Thursday, Oct 17th daily newsletter, and hopefully some traders got on board).

Potential Trade Signal: We are looking to buy on a retracement lower and after a price action buy signal, whilst price remains above the 149.40 short-term support level.

To Trade This Market With Our Preferred Broker, CLICK HERE

AUDUSD – Cash: Buying On Retracement Lower & After Price Action Signal At Or Above 0.6621 Support Level

Comments: Price seems to be heading towards the 0.6621 short-term support level.

Potential Trade Signal: We are looking to buy on a retracement lower and after a price action buy signal, at or just above the 0.6621 short-term support level.

To Trade This Market With Our Preferred Broker, CLICK HERE

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Disclaimer: The risk of loss in trading financial market products, like Cryptocurrencies can be substantial. You should therefore carefully consider whether such trading is suitable for you in light of your financial condition. Any content posted here should not be considered financial or Trading advice, this newsletter is just for information purposes and is just the author’s opinion.