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ClearTradingMind

Bearish Breakdown Ahead for AUD/JPY

Short
Australian Dollar / Japanese Yen (FX:AUDJPY)  
ClearTradingMind  
FX:AUDJPY   Australian Dollar / Japanese Yen
Trend Analysis Harmonic Patterns Chart Patterns Contains image
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AUD/JPY is expected to be bearish from 103.400, with bullish momentum exhausted around the 104 range, which I identified as a No Traffic Gap. I decided to enter a trade at this point, targeting the 61.8 Fibonacci level marked on the chart. The stop loss is set at the Exhausted level, which I consider a potential reversal point. Let's see what happens next. Good luck
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