AUDJPY: Short term sell setup
AUDJPY has reached the critical zone of resistance around 76 - 76.50 and has developed the bearish divergence.
It gives us the short term opportunity to sell once the support from the most recent up trendline and horizontal level around 75.95 is broken.
We can set the sell target around 74.50 which is the next support. The invalidation of this sell trade would be the break above most recent high around 76.75
Please note that the trend on the higher time frames is still bullish and this is only a short term sell trade, therefore set a conservative exposure in this trade.
GOOD LUCK !!! FOR YOUR TRADES AND DON'T HESITATE TO SHOW YOUR SUPPORT IF YOU LIKE THE IDEA
It gives us the short term opportunity to sell once the support from the most recent up trendline and horizontal level around 75.95 is broken.
We can set the sell target around 74.50 which is the next support. The invalidation of this sell trade would be the break above most recent high around 76.75
Please note that the trend on the higher time frames is still bullish and this is only a short term sell trade, therefore set a conservative exposure in this trade.
GOOD LUCK !!! FOR YOUR TRADES AND DON'T HESITATE TO SHOW YOUR SUPPORT IF YOU LIKE THE IDEA
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.