AUDJPY - Over extended fade

Hi guys, I am long the AUDJPY @ 83.47. Both X Meter and Wave Trend are over extended. Wave Trend rolled back over and seems to be headed up. The Currency Barometer is extremely over extended for the JPY. All signs point to a short term bounce.

Stop and Target are marked on the chart.

This is not investment advice, just my opinion(s). Please trade accordingly.

Trade safe and keep an eye on news.

Kommentera:

Moving my stop to Break Even. If it pushes back down I'll re-enter at a better price.