AUDJPY popped higher due to better than expected GDP figure, even it was revised higher after yesterday's good AU export data. Given the such good data, AUDJPY still struggles to break to the upside of the channel. Which means price may just stall here and turn back lower soon and the pop provided a good shorting opportunity.
I have entered a small short at 80.70 with stop just above 81.00 (above the channel), the risk to reward is very high for this trade.
Use good risk management if you take this trade.
I have entered a small short at 80.70 with stop just above 81.00 (above the channel), the risk to reward is very high for this trade.
Use good risk management if you take this trade.
Comment:
I decided to close AUDJPY short at +90 pips because USDJPY is bouncing to trend line support. Not a bad trade.
