AUDJPY - SELL IDEA
The AUD/JPY 45-minute chart is signaling a bearish continuation pattern. After completing the corrective wave (b), the pair is poised to move lower, aligning with the broader downtrend. The target for this move is around 96.240, which corresponds to the 1.618 extension level of wave (c).
Entering a short position at this point could be advantageous, as the chart suggests further downside potential. The completion of wave (c) at the 1.618 extension is a common target in such patterns, providing a clear and strategic point for this trade.
Entering a short position at this point could be advantageous, as the chart suggests further downside potential. The completion of wave (c) at the 1.618 extension is a common target in such patterns, providing a clear and strategic point for this trade.
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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.