AUDJPY: Why is AUDJPY a higher-than-normal risk setup?

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AUDJPY: Why is AUDJPY a higher-than-normal risk setup?

AUDJPY has completed a clear bearish pattern; however, it remains a very high-risk trading setup.

The pattern suggests that the price could soon start falling to 101.60; 101.10 and 100.50.

The risk in this setup remains that the BOJ is unclear about what it is doing. The Japanese Prime Minister is supporting further weakening of the JPY and on the other hand the BOJ sent out some Forex Intervention messages and last week they said they should raise interest rates.

At the market opening on Monday, BoJ Governor Ueda is expected to speak. He could easily push the price up or down. However, this setup indicates potential weakness.

You may find more details in the chart!
Thank you and Good Luck!

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