Technician
Short

AUDJPY: Breakout Imminent! Update

FX:AUDJPY   Australian Dollar / Japanese Yen
1228 views
11
Update: Stopped out.
Profit(pips)= -180.
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AUDJPY is breaking-out heavily from the short term sideways range among 95.20 key support level , and 96.50 key resistance, which i mentioned in my previous post that i would look to short if a breakout materialize.

Bearish Catalysts:
- A break below Main near term support at 95.20 includes the latest low, the 50-days SMA and main rising trend line
- A bearish divergence on RSI supports the bearish scenario

Best of Luck
Technician: https://twitter.com/thefxchannel

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Trading Criteria:
1. Trades are taken in two units
2. First unit would be closed at first target
3. Stop loss is then moved to break-even
4. Second unit would be closed at second target
5. Note that If 90 percent of first target is reached without triggering entry, trade is cancelled
6. Remember: Losing is a main part of the game ;

Comments

Guyz, i dont like this, price failed to close decisively below 95.20 support, which is worrisome for me. But anyway, i still hold to my short position, but i might exit early if we break and hold back above 95.50. I will keep you posted with developments. Good luck

+2 Reply
Cfsqbwn. Technician
Thanks for advice...I will be pending...
Reply
TradingTipster Technician
Yes, looks like the breakout is still a no go for now.
Reply
manijeh.kazemi.33 TradingTipster
agree
Reply
I am in, trade triggered. luck to everyone
+1 Reply
kmk.msp Technician
i have open position on this trade @94.895. Is it better to exit as this is going open or it will finally come down technician. Waiting for your guidance please.
Reply
kmk.msp kmk.msp
Reply
Looks promising. The fakey is always a worry mind.
+1 Reply
Short @ 95.3...
Reply
thanks for sharing I wish you luck
Reply
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