The AUDJPY has been in a long-term decline since very early 2018, as can be easily seen by a look at the weekly chart. Then down to the daily, a rising wedge has formed. This short trade is on the break of that wedge.
Stop is above the recent congestion high
Target is above the inception point of this wedge at 70.875.
I’m keeping an eye two significant levels that must be broken to get the target: the 74 area, and the 72 area.
Stop is above the recent congestion high
Target is above the inception point of this wedge at 70.875.
I’m keeping an eye two significant levels that must be broken to get the target: the 74 area, and the 72 area.
Losing a position is aggravating. Losing your nerve is devastating.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Losing a position is aggravating. Losing your nerve is devastating.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.