Australian Dollar / Japanese Yen
Short
Updated

[AUDJPY] CONSOLIDATION PATTERN???

55
At D1 of AUDJPY, we see the consolidation is happening and seems to be the seller are in advantage (See how the buyer move up the price and seller move down the price in the consolidation). So I would like to wait for a decent rejection around 79.8 level. In that case, our risk:reward will be pretty good if the pullback is at the high position. Also, I expect the consolidation break downward as the seller seem to have more money here, that means with small risk, we would have huge reward which would be around R:R = 1:3 at least.

The main point here is to wait patiently for the decent rejection, if not, just let it go. Nothing to worry, relax and check chart 2 or 3 times per day, it would be great if your mind calm.
Note
The price breaks out of waiting level without any signal bar for sell, thus cancel this idea

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