AUDJPY Analysis : Price bought & sold as expected and broke uptrend also out of channel. AJ is currently under resistance 66.862 expect price to head towards support zone 66.507 Long Term Daily Time Frame.
SELL SETUP ABOUT AUDJPY
Traders! if you like my ideas and do take the same trade, please write it in comment so we can manage the trade...
Here i see that AUDJPY does not have enough support to hold the price. I'm planning to enter short with 1:2 risk to reward. I'm going to update this post accordingly.
I have entered short. I have changed the stop level as there's a strong resistance. So I have moved my stop a bit above the resistance line.
SL: 80.340 - 47 pips
As we noticed from 2 weeks before AUDJPY parrity made its Highest high point which was also predicted as strong resistance which 89.50 Band. Adding to this significant drops at volality in August triggered this chart to start it's countertrend as 8th month started. Now chart holds 86.25 point which forms a good opportunity to sell. 86.10 is the key level which...