Project 1001 Pips AUDJPY Sell Opportunity Ahead

Looking at the higher timeframes we may see that price with a sharp impulsive downmove has broken below a long term corrective structure and is now is retracing back to the broken level in a corrective mode once again. Most likely it will bounce from that level for another down move.

We should keep a closer eye for a breakout below the correction. This will signal a sell setup with profit target as shown at the chart.

Larget view of structure:

Comment:

Price broke below the corrective structure

Comment:

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Trade closed: stop reached:

~ 17pips