An interesting situation on the daily chart currency pair AUDJPY, where the price from two weeks staying under Bollinger band custom settings. If this situation continues and in addition will be broken hole at 75.95 could be considered a short position / PUT option.

Stop loss should be found in this situation above the local high at 77.52. The closest target for the potential transaction will be 200-percent extension of the downward movement before creating consolidation, namely the level of 72.79.

Setup will be canceled in the case of closure of daily candle above the lower Bollinger Bands.


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