DocWonmug

AUDJPY 1D short – top of the channel

Short
OANDA:AUDJPY   Australian Dollar / Japanese Yen
Got to show two views on this one including the 1W which I usually don’t use much. But that is the only way this makes much sense. And the trade will be on the 1D chart, which I also usually do not do.

There has been a DT channel at 92% regression on the 1W since 26 Mar 2018. Inside that better seen on the 1D is an UT channel The PA is testing the 1W channel in red. Just for reference the red channel is about 600 pips wide.

I’ll be looking for an RSI break on the 1W, and a break below the bottom of the smaller channel. Here is the view on the 1W:


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