H&S on 4H
Long for AUDJPY
My Tp1 @ 80.100
Tp2 @ 81.000
Tp3 @ open
the Japanese Yen (JPY) is a highly volatile pair. JPY is often used as a funding currency of a trade because it’s historically a low yielding currency. Since UK is one of the larger economies in Europe, the AUDJPY pair can be considered as a proxy for worldwide economic health. On the other hand, this pair performs like a representer for market 'risk-off' moves as the carry trade gets reversed. As a result, AUDJPY is able to develop strong trends that exceed thousands of pips.
Long for AUDJPY
My Tp1 @ 80.100
Tp2 @ 81.000
Tp3 @ open
the Japanese Yen (JPY) is a highly volatile pair. JPY is often used as a funding currency of a trade because it’s historically a low yielding currency. Since UK is one of the larger economies in Europe, the AUDJPY pair can be considered as a proxy for worldwide economic health. On the other hand, this pair performs like a representer for market 'risk-off' moves as the carry trade gets reversed. As a result, AUDJPY is able to develop strong trends that exceed thousands of pips.