Fxprotrader
Long

AUDJPY: Great Levels to Watch For Both Short and Long Setups

FX:AUDJPY   Australian Dollar / Japanese Yen
245 0 10
Price has broken above a long term downtrend and has now reached a slide parallel of an upsloping median line where we may start watching for a sell setup to complete. A potential downmove from this level should be considered as a pullback after the breaout of the downtrend. If price retraces to the broken level of the downtrend it will also reach another slide parallel of the pitchfork with a valid slope. At that level any but serup would be gold             as the upmove coming from that level may last for weeks with potential tp the median line or even the upper parallel of the pitchfork . It may take some time for that long trade so we should better now watch for short at current level. I will update the post if any setup comletes at current level
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