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SondreNordvoll

AUDJPY SHORT OPORTUNITY!

Short
Australian Dollar / Japanese Yen (OANDA:AUDJPY)  
SondreNordvoll Updated   
OANDA:AUDJPY   Australian Dollar / Japanese Yen
Trend Analysis Double Top or Bottom priceaction trendisyourfriend
4
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trendanalysis doubletoporbottom priceaction trendisyourfriend
AUDJPY have now reached support of a 2 week uptrend! However the overall trend is downward on the daily timeframe and the pair has formed a double top formation close to the overall resistance level! We will now look for short opornunities if the pair breaks through the 2 week support and rejects upward momentum! We will look to enter at 74.020 with the tp of last week low of 73.0. SL will be placed 50 pips above entry point at the current head of the double top at 74.50.

Risk Reward 2:1

Entry: 74.020

SL: 74.5 ( 48 PIPS)

TP: 73.0 (102 PIPS)


What do you all think! :D

Comment:
The pair is now trying to push thorugh the 2 week long support. Please wait for confirmation that it respects it before entering anything!
Trade active:
Active in trade in profits at the moment!
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