Hi Traders! We have AUDJPY range idea for sells. A detailed analysis of this bearish opportunity is as follows:
AUDJPY D1 Chart:
On the daily chart the price which is currently moving lower has created lower lows which we may consider as an evidence of bearish pressure. In addition to this there is no divergence against and also the 61.8% fibo level is at the end. Until there is any opposite evidence we may expect possible continuation lower.
AUDJPY H4 Chart:
On the H4 chart the price is moving inside a range, this range is formed by the highs and lows reaching similar resistance and support zones. The price is respecting this range so far and is currently near the middle of it. Until the price holds below the top of this range my view remains bearish here.
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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