Looking at the AUD vs JPY on the 4 hour time frame we can see price breaking to the downside of the Kumo Cloud which is acting as a support level. Once price closes below the Kumo we can enter our trade. Looks like price was trending downwards hitting the 86.500 level before retracing just over 50% of the previous move down at 90.00
Price has since continued it's downward trend breaking through the Kumo. I am expecting the market to move to the next most recent support level at 86.500 just below our profit target. Have a great trading day and God bless!
Price has since continued it's downward trend breaking through the Kumo. I am expecting the market to move to the next most recent support level at 86.500 just below our profit target. Have a great trading day and God bless!