On September 19 2021 I posted on social media @AidanFX “ AUDJPY for coming trading week watch for selling opportunities as long price remains below 80.51 looking for a move lower towards 79.46 – 79.21 area. “
AUDJPY can be getting ready for another possible move lower. In the 1 hour chart below, the pair has been moving lower forming a lower low/lower high sequence signalling traders the pair is on a down trend. A bearish trend continuation divergence pattern (black) formed at the September 17 2021 high also signalling for more downside. Added bearish sentiment is the Tenkan (blue) has crossed below the Kijun (pink), price is below the Ichimoku cloud, and the future Kumo cloud (grey) is bearish. More added bearish confirmation will be when the Chikou (black dotted) moves below previous candles which at the moment is currently on them. Watch for any selling opportunities if the pair moves higher towards the 80.01 – 80.21 sell zone with stops at 80.51. If price hits the sell zone look for a move lower towards the 79.46 – 79.21 target zone. Only time will tell what AUDJPY will do but for now we remain bearish.
AUDJPY 1 Hour Chart September 19 2021
Of course, like any strategy/technique, there will be times when the strategy/technique fails so proper money/risk management should always be used on every trade. Hope you enjoyed this article and follow me on social media for updates and questions> @AidanFX
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