AXY had a nice bearish move finish playing out this past week or so, it is is now at range support. i am bearish this move, but the risk to reward on this quick bear rally shares nice confluence with currency correlation and market structure.
my skeptical side is telling me to be careful with JPY as it has reached a channel support where it could starting pumping up.
however i like this setup for the short term to short back into the downside move as i am currently bearish AUD if it breaks index support.
tp1 most recent intraday high
tp2 most recent intraday demand
tp3 .76 Key Level
my skeptical side is telling me to be careful with JPY as it has reached a channel support where it could starting pumping up.
however i like this setup for the short term to short back into the downside move as i am currently bearish AUD if it breaks index support.
tp1 most recent intraday high
tp2 most recent intraday demand
tp3 .76 Key Level