AUDJPY – SELL – Double Trade – Tuesday 10th December

AUDJPY – SELL – Double Trade – Tuesday 10th December (Closed)

Markets are moving!

News is breaking about President Donald Trumps impeachment. Markets are dropping as traders head towards safe havens -GOLD and the JPY. The US stock market has had a sharp decline this evening.

One trade set up we are looking at is the AUDJPY.

The AUDJPY has appeared to have broken a key structure which is suggesting we could see further downside on the pair.

The 200 day moving average has provided a major level to sell from previously. Since the 200 day moving average touch in November the AUDJPY has failed to create a higher high, which is technical signal for a reversal.

AUDJPY Daily Charts

AUDJPY – 1 Hour Charts

The inclining structure appears to have been broken. If the AUDJPY creates a new low, the 127% FIB level could provide a target.

Trade Set Up 1: SELL Market Order – Stop loss 74.60 and take profit set at 72.80

Trade Set Up 2: SELL LIMIT – Entry Price 74.20 stop loss 74.60 and take profit set at 72.80

Trade Setup
AUDJPY SELL

Entry
73.99

Take Profit
72.80

Stop Loss
74.60