Price has broken out of a symmetrical triangle on the daily timeframe.
On the 4hr timeframe price has broken and retested old support as new resistance.
The bears have came in after the rejection of new resistance.
Here is the play I will be taking on this pair:
PAIR = AUDJPY
ORDER TYPE = SELL STOP (PENDING ORDER)
LOT SIZE = Micro lot (0.01) (0.02)
ENTRY PRICE = 81.391
STOP LOSS = 82.174 = 78 PIPS
TAKE PROFIT = 80.391 = 100 PIPS
On the 4hr timeframe price has broken and retested old support as new resistance.
The bears have came in after the rejection of new resistance.
Here is the play I will be taking on this pair:
PAIR = AUDJPY
ORDER TYPE = SELL STOP (PENDING ORDER)
LOT SIZE = Micro lot (0.01) (0.02)
ENTRY PRICE = 81.391
STOP LOSS = 82.174 = 78 PIPS
TAKE PROFIT = 80.391 = 100 PIPS