Trade Idea: AUDJPY Bearish, Looking To Sell on Corrective Structure Break | Oct 1

Verified Profitable Trader

Chris Capre’s current live open price action & ichimoku trades: AUDNZD, CORN, WTI, USDCHF, USDMXN

New to Forex? Then check out my FREE Learn Forex Trading Course with videos, quizzes and downloadable resources

Want to find unique trading opportunities? Check out my latest trading video on how to find dynamic support & resistance.

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. 

audjpy corrective structure

Trending Analysis

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

Want More? My private members get all my trade ideas & market commentary 4x per week. Click here to become a member.

Related Article