Hi Traders! We have AUDJPY bearish opportunity from the top of the range. A detailed analysis of this sell setup is as follows:
AUDJPY H4 Chart:
On the H4 chart the price is moving inside a range, this range is formed by the highs and lows reaching parallel resistance and support zones. The price which is respecting these two zones so far has currently reached the top of the range, if we didn’t get a valid breakout here we may then expect the price to respect this top again and move lower. We may now look for evidences of bearish pressure in order to join the bears.Invalidation: If the price moves higher and breaks above the top of this range with momentum then this sell setup will be invalidated.
Note: It is always recommended to look for confirmations before you jump into any trade. If you are not sure about how to trade this sell setup then you can use any setup and strategy that you have in your arsenal to look for bearish moves and join this sell trade.
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