Description
⋅ 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.