AUDJPY Trade Idea (21st January 2020)

Currency Pair: AUDJPY
Timeframe: H1
Date/Time of Signal: 21st January 2020 / 2250hrs (SGT)

Review:

The Australian Dollar is trading lower after Chinese officials confirmed the coronavirus can be spread by human-to-human contact. Safe-haven Japanese Yen has been strengthening which is a strong indication of a risk-off trading session.

AUDJPY has bounce off the Resistance level of 76.20 and is on a downtrend.

Trade signaled to sell AUDJPY (Entry: 75.53) with 3 Take Profit (TP) Targets (TP1: 75.33, TP2: 75.13, TP3: 74.93) and Stop Loss (SL) at 75.83.