AUDJPY – Trading Plan
The AUDJPY is trading in a well defined short term range, it is possible to trade the short term range, but once it breaks it, only opportunities in direction of the breakout will be in play:
Here is my trading plan:
If the AUDJPY keeps trading in between both green lines, short term trades could be taken on both extremes (shorts around the top of the range and long trades around the bottom of the range).
If the AUDJPY breaks the top of the range, only long opportunities will be in play.
If it breaks the bottom of the range only short opportunities will be in play