AUDJPY - SELL - 9th June 2022




AUDJPY - SELL - 9th June 2022 (Closed)


Evening team,

 

I have been waiting patiently for the AUDJPY to top, and break down from a rising channel structure. There is possibly a big SHORT setup in play. Due to the triangle formation in the B wave correction, I am under the impression that the rally on the AUDJPY is a final wave C corrective rally. This means a large corrective decline is on the cards.

AUDJPY 4 Hour Chart

AUDJPY 1 Hour Chart

Trade Setup: SELL market execution, current price 95.78, stop loss 96.78 and take profit target 91.15.

Stop loss: 100 pips

Take profit: 463 pips

We are looking to take this down in stages and will build into a short position.

Trade Setup
SELL - Market Execution

Entry
95.78

Take Profit
91.15

Stop Loss
96.78