AnriErikanov

AUDJPY GOOD SHORT OPPORTUNITY FROM TECHNICAL STANDPOINT

FX:AUDJPY   Australian Dollar/Japanese Yen
20 0 1
After monday's gap that went bullish price has moved in to a pattern : wedge pattern indicating a weak retracement and price could've keep going bearish right now we are trading along a very strong level of resistance 78.3400 is the level price has respectively hold support I expect it to hold as a resistance as well also the uppper diagonal line has rejected twice indicating that it will reject again.

RSI shows strong divergence to the bearish side.

What make this trade worth is if price does break all of the resistance we can exit without to much of a loss with a decent money management our risk to reward is 1 to 4
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