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JD_TeenTrader

AUDJPY Short for 1:5 Risk to Reward

Short
Australian Dollar / Japanese Yen (FX:AUDJPY)  
JD_TeenTrader  
FX:AUDJPY   Australian Dollar / Japanese Yen
Harmonic Patterns Trend Analysis Chart Patterns audjpyshort AUDJPY sharkpatterns harmonictraders resistance_level
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harmonicpatterns trendanalysis chartpattern audjpyshort audjpy sharkpatterns harmonictraders resistance_level
Buying YEN has been a risk for the past few months. In fact, it is the best time to go to Japan as the YEN is super weak.

Having said that, we have a good opportunity to sell AUDJPY now. The risk rewards makes sense and here are the reasons.

1) Daily Divergence is present
2) There is a harmonic pattern to sell at 98.50
3) Strong resistance

Stop loss would be just 30 pips and we are targeting about 150 pips in rewards.
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