Hi Traders! AUDJPY sell opportunity update and follow up is here. In the previous post here I mentioned that “On the H4 chart the price which was moving inside a bullish channel pattern has broken below the bottom of this channel and is currently moving inside a bearish flag pattern. We are now at the top of this flag pattern. We may now expect one more spike up before continuation lower”. Lets see how this setup has developed now.
AUDJPY H4 Chart:
On the H4 chart the price was in a critical zone, we didn’t get the spike up that we were looking for and the price moved lower. Once the price moved lower below the bottom of the bullish channel, it opened the door for the sells.
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