TOP #Forex Trades for today [16th September]
- Chris Trader
- Sep 16, 2024
- 2 min read
#AUDJPY is currently showing strong potential for a favorable trading opportunity.
The anticipated pullback towards the 95.50 level presents a compelling entry point for traders. This level is expected to act as a significant support zone, likely triggering a price rejection that could propel the currency pair towards the target of 90.20.
Chris and the team are monitoring the price action around this critical level, looking for confirmation signals that validate the trade setup. Factors such as market sentiment, economic indicators, and geopolitical events could influence the outcome of this trade. Risk management strategies should be carefully implemented to mitigate potential losses and maximize profits. Overall, #AUDJPY's price movement presents an intriguing scenario for traders to capitalize on potential gains in the forex market this week.
Continued downward momentum is anticipated for the #GBPJPY currency pair this week, as market analysts and technical indicators suggest a bearish trend in the near term. The pair is expected to experience further declines, with a potential pullback to the support level around 186.80. This retracement could offer traders a favourable opportunity to enter the market, capitalizing on the downward movement of the price.
The price action of GBPJPY is likely to persist in a downward trajectory towards the target level of 177.80 within the coming week. Traders and investors keen on short positions may find this forecast appealing, as the technical outlook aligns with the fundamental factors influencing the currency pair. Factors such as economic data releases, geopolitical events, and market sentiment towards the British pound and Japanese yen could all contribute to the anticipated movement of GBPJPY.
It is essential for traders to closely monitor key support and resistance levels, as well as any potential catalysts that could impact the exchange rate. Risk management strategies should be carefully considered to mitigate potential losses and maximize profit potential in this volatile trading environment. Overall, the forecast for GBPJPY points towards a bearish bias, offering traders an opportunity to capitalize on the downward momentum in the market.
Chris
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