If the current consolidation just above 80.00 breaks down a quick move lower could occur. Establishing short positions within the current consolidation pattern is riskier then waiting for a breakdown but has a much higher risk reward ratio and ensures the move downwards will not be missed. The price action suggests quite few stop losses are placed just below 80.00. Should the price be pushed below 80.00 on a daily closing basis a significant and rapid move downwards could occur.
*This is not a recommendation to buy or sell it is for educational purposes only*
AUDJPY
https://tradingview.sweetlogin.com/x/PozoMHBV/
*This is not a recommendation to buy or sell it is for educational purposes only*
AUDJPYhttps://tradingview.sweetlogin.com/x/PozoMHBV/
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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.
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.