Hi, I'm Chris Capre, founder of 2ndSkiesForex. I'm a verified profitable trader and trading mentor. As a professional trader, I specialize in trading Price Action and the Ichimoku cloud. As a trading mentor, I have one goal: to change the way you think, trade and perform using 18 years of trading experience and cutting edge neuroscience to wire your brain for successful trading. Want to improve your trading edge and mindset? Check out my trading courses here.
AUDJPY – Bearish Volatile Trend, Looking to Sell | Feb 11
AUDJPY – 6 Day Bear Close, Bearish Cycle in Play (daily chart)
Down almost 8+ handles since the start of this year, the AUDJPY has been getting hammered lately, closing red 6 days in a row and 7 out of the last 8.
What is most interesting is yesterday’s meltdown with a mini-flash crash in the JPY pairs, followed by a sharp rebound. The pair has since formed a long tailed pin bar after initially breaking a major support level in 79.21, but then closing above it.
For now, the pair is in a bearish cycle and I’m expecting any rallies in the AUDJPY to be sold. We might see some profit taking here and thus a small rally which should find offers at 81.84 and 86.27.
Since this is a bearish volatile trend, watch for key pullback levels before getting short.
Want More? My private members get all my trade ideas & market commentary 4x per week. Click here to become a member.