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Trade Idea: AUDJPY Bearish, Looking To Sell on Corrective Structure Break | Oct 1
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AUDJPY – Bearish After Corrective Structure + Support Level Break (4hr chart)
Price Action Context
After breaking above the key support level around 72.56, the pair was ST bullish but has pulled back towards the same support, forming a corrective structure. THe pair just broke through the level a few hours ago, suggesting a lot of the gains recently could be unwound and a potential round trip to 71.15.
ST bearish while below the ST support level on a daily closing basis. Looking to sell on a corrective pullback and target the low 71’s.
Key Support & Resistance Levels
R: 71.15, 74.24
S: 71.15, 70
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