AUDJPY

Hello traders

Here we have a AUDJPY LONG & SHORT

We are expecting bullish momentum due to JPY weakness which will push us up to our main trendline where we are expecting price to reverse from. We will be shorting from this zone.

We can see this pair has been in a impulsive wave upwards for the past week & we are expecting a correction to occur before we continue upwards.

We broken our structure level which is a well respected structure level so we are expecting a retest of this before continuing higher.

We will be using a 30 pip stop loss on both trades to keep our risk:reward ratio low.

Our long entry will achieve 350 pips giving us a RISK:REWARD of 1:7
Our short entry will achieve 300 pips giving us a RISK:REWARD of 1:6

Totalling both entries at 2:13 or 1:6.5

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