AUDJPY Sell signal below the 4H MA50.
The AUDJPY pair has been trading within a Bearish Megaphone and is currently going sideways within the 4H MA200 (orange trend-line) and 4H MA50 (blue trend-line). Every time the latter broke to the downside, the pattern started its new Bearish Leg.
Assuming it hits at least the 1.236 Fibonacci extension like the first Bearish Leg, we are looking at a short-term Target of 93.750, if the 4H MA50 breaks.
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Assuming it hits at least the 1.236 Fibonacci extension like the first Bearish Leg, we are looking at a short-term Target of 93.750, if the 4H MA50 breaks.
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** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. **
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Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
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