FX Trading Idea – AUD/JPY Follow Through

Price is breaking the low, price could be heading down to the Fibonacci 62% correction point at 72.40 or to the Fibo 50% level at 72.80. While Stochastic is into the oversold extreme, MACD is still bearish.
Sell on a break of 73.15 with stop at 73.55 for either 72.80 or 72.40

The above was our sell call on Friday. For those who have took their profit at 72.80, that was a good profit on the same day itself. For those holding on for 72.40 target, it would be good to lower stop loss down to 73.15 (cost price) while keeping profit target at 72.40.

There is also a possibility that a bearish Flag chart pattern is forming. This would imply price going lower to 72.20.

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