The AUD/JPY pair traded bearish, falling from 79.77 level to trade low at 79.50. On the lower side, the AUD/JPY may find support at the 79.50 level, and a bearish breakout of this level can extend selling bias until the 79.14 level. The 10 & 20 periods EMA are supporting selling bias, along with the 50 MACD and RSI indicators. Let’s follow a trading plan below:
Daily Support and Resistance
S1 0.7547
S2 0.7632
S3 0.7668
Pivot Point 0.7717
R1 0.7753
R2 0.7802
R3 0.7887
Entry Price – Sell 79.678
Stop Loss – 80.078
Take Profit – 79.278
Risk to Reward – 1:1
Profit & Loss Per Standard Lot = -$400/ +$400
Profit & Loss Per Micro Lot = -$40/ +$40
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