AUDJPY has not succeeded in attaining fresh highs over the past few weeks. Presently, a distinct downtrend is evident, characterized by the formation of successively lower highs.
Beneath the wick that was established on October 3, 2023, there is anticipated to be a substantial pool of liquidity. Accordingly, we are initiating a short position with the objective of capitalizing on the sell-side liquidity.
The trade offers a Risk-Reward Ratio (RRR) of 2.5 to 1.