Long AUDJPY
Updated
I will be longing AUDJPY. The pair is in a short term uptrend and has broken and retested a key resistance turned support level. My TP will be at 76.0 which is the channel top that lines up with the next resistance level. My SL will be just below the broken SR zone. I believe that the pair will come up to test the top of the channel before possibly continuing its way down. This trade will offer a favourable 1:5 RR.
Note
Should have set my stop slightly lower at the 0.50 fib level to prevent being stopped out.Trade closed: stop reached
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