OANDA to Transfer Prop Trading Business to FTMO Platform
After FTMO’s acquisition of OANDA, the transfer of the OANDA Prop Trader service to the FTMO platform begins.
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AUD/JPY Price Analysis: Inverse Head & Shoulders taking shape
Abstract：AUD/JPY bulls are in charge and the price could be o the verge of a breakout.
The bullish engulfing ad the prospects of an inverse H&S are in focus.
AUD/JPY has benefitted of late from a return of risk appetite in global financial markets. The price action has seen a daily bullish engulfing candle followed by a break of the prior highs which leaves the bulls in good stead for continuation to break the daily trendline resistance.
AUD/JPY daily chart
As illustrated, the price has been in a descending channel for a relatively good length of time with multiple tests of either side of the bearish dynamic range. A breakout could be imminent one way or the other. The formation of what looks to be a bullish inverse Head & Shoulders pattern could be the final stags of this bearish channel.
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The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
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