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AUD/JPY Trading Analysis (19/08/2024)

19.08.2024

The trend is down. The forex pair is trading in a range between 365 and 135 EMA. The ascending truncated wave structure finished with the breach of the sloping channel. There is a bearish divergence on the Awesome Oscillator, and the Stochastic Oscillator's moving averages are out of the overbought zone.

Trading idea:

Sell when the formation of the descending wave structure begins.
Stop-loss at 98.93.
Price targets at 95.35 and 91.50.

#audjpy #forex #forextrading #tradersroom #daytradingpatterns #forexexpertadvisor

Author: GC

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