AUDJPY pin bar short opportunity
price seems to be ranging on the daily timeframe however weekly time frame shows downtrend therefore overall momentum would be biased towards downtrend. price has retraced to the 50% fibonacci level since the most recent highs and also price has reached an are of previous support and resistance a few times. Bearish pin bar has formed indicating sellers have gained control over the past 24 hours and maybe ready to push price down. Sell order entry could be placed when price retraces half way of the pin bar and profit target set at next level of support. Reward is 2:1
Trade closed manually
Order cancelled, price did not reach entry price
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