Because AUDJPY and AUDNZD are both hitting this high probability zone at about the same time, we are looking to go long. I would however need to wait for aud to show some more strength compared to other currencies to confirm this area. Although the correlation rate is 15% between these pairs, having both hit such a area could lead to a mean continuation to the upside.
Trade active:
i like the setup and aud has shown strength.
Comment:
going long, stop 10 pips below area.