AUDJPY: Return of Risk On Trades?

AUDJPY
Timeframe: 1D
Direction: Long

Confluences for Trade:
- Price action bouncing off Support of Parallel Channel
- Stochastic Oversold momentum (D1 and W1)
- Wide gap between EMAs
- Price action created a double bottom around Parallel Channel support line
- Fundamentally, there is positivity in sentiment moving into the coming 2019 which will see a dollar weakening scenario and AUD will gain from positive sentiment from global outlook being moderate instead of weakening tremendously.

Suggested Trade:
Entry @ Area of Interest 77.45 - 78.45
SL: 76.81
TP: 80.44
RR: Approx. 2.18 (Depending on Entry Level)


May the pips move in our favor! Good luck! :D

*This trade suggestion is provided on an advisory basis. Any trade decisions made based on this suggestion is a personal decision and we are not responsible for any losses derived from it.