Since the extremely large drop
on the majority of FX pairs, AUDJPY
has been climbing up in an ascending channel
which is visible on the daily chart
. Price has broken out to the downside and has come back up to retest the channel. Our entry is at the 0.618 retracement
zone of the previous swing.
TARGETS ARE MARKED OUT ON THE CHART. PURPLE LINES ARE SHORT TERM TARGETS! ENJOY YOUR TRADE!