AUD/JPY Trading Analysis (16/12/2024)
The trend is down. The forex pair is trading in a range between 365 and 135 EMAs. The ascending wave structures are truncated. There is a bearish divergence on the Awesome Oscillator, and the Stochastic Oscillator signals an overbought conditions.
Trade idea:
- Sell at the beginning of the formation of the descending wave structure, when wave A breaks the sloping channel of the ascending truncated structure.
- Stop-loss at 98.20.
- Price targets at 97.00 and 96.00.
#audjpy #forex #forextrading #tradersroom #daytradingpatterns #forexexpertadvisor
