AUDJPY: Trading Plan Short
Australian Dollar/Japanese YenFXCM
Description
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descending triangle formation on AUDJPY.
Pay attention to a horizontal support of a triangle!
Bearish breakout of support is a signal to short the pair.
We don't know how long the pair will be trading within the triangle,
but when it breaks, set your stop above the last lower high!
target levels will be:
72.6
72.0
*if the market breaks above the resistance of the triangle, setup will be invalid.