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AUDJPY Technical Overview And Trade Opportunity Tp 1 Reached

AUDJPY Technical Overview And Trade Opportunity

AUD  was the biggest loser while JPY recovered ground and dragged the USD/JPY pair back to the 112.50 level. AUD is loosing ground following IMF warnings on the Australian economy.

Currencies market stuck to tight trading ranges amid a broadly subdued US dollar while markets await fresh updates around the European politics for further trading impetus.

Looking at the AUDJPY chart, we see that the pair broke the ascending trend line on H1 Chart. The pair is trading below EMA 50 on the H4 Chart as well. The midterm picture took a bearish shape.

What can be done?

AUDUSD is trading at 81.87 as of writing. The pair may make a minor correction towards 82.00.

Trade Setup:SHORT

Entry: 81.95 -81.87 / executed at 82.05

Stop: 82.40 ( Above MA 20 )

Target: 81.40 – The main support –  / TP 1 REACHED 60 pips

Target 2: 81.10

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DISCLAIMER: This is a technical analysis study, not an advice or recommendation to invest money

AUDJPY :  Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. Chartreaderpro does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

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