rcjugg

AUDJPY Pennant structure

Short
FX:AUDJPY   Australian Dollar / Japanese Yen
- Progressively higher lows being matched with lower highs, anticipating breakdown and retest before push towards first key level
- Last saw these kind of highs back in 2017, displaying signs of AUD overbought, taking profits among bulls may help drive price to downside
- TP1 based on areas of key reaction (support or resistance) in previous price action, potential 3R
- TP2 baed on swing low levels, hoping to hold all the way for potential 8R
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