My take on AUD-JPY for the day


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Hey all,

Another trade that I have placed - I can see a resistance at 95.95 that has later become a support level. Looking at this, I would think it is a good opportunity to place a buy at 96.044 and target upwards at 96.20.

Post-analysis later today with the results.

Image attached.



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The market went downwards instead, not 100% sure yet as to why - was expecting an upward bounce from the support line. Stop loss triggered at 95.958 - netting a loss of $13.

Analysis: Maybe I gave too much significance to the support line. In hindsight, when I look at the attached chart from 1pm yesterday (NZT), there is a continuous downward trend, so next time I am going to keep an eye on that instead.

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