+120 PIP TRADE AUDJPY BROKEN OUT!

AUDJPY was travelling in a triangle and it can be argued it was also travelling in an ascending channel. Price broke out of both structures to the downside and came back up to retest the structures before tanking all the way down to the previous support.

We have reached the 0.618 retracement level indicating a SELL opportunity, Our TP is at the -1.27 extension which is also the next support zone.

Trade closed: stop reached:

STOP LOSS HIT