OANDA:AUDJPY   Australian Dollar / Japanese Yen
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Setup Timeframe: 4H
Execution Timeframe: 4H
Risk: 3%
Reward: 10%

Reasons for Entry: Touch of a bearish TL, which lines up with a close with the 61.8 fib bearish level, which also lines up with a 50 EMA on the daily chart . Also lines up with a BRC of a broken support zone .

Reasons for SL placement: Above the 78.6 fib level, above the bearish TL, and above the broken support zone .

Reasons for TP placement: At the -0.27 fib extension level, will have to watch trade as it approaches a bullish TL.

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