AUDJPY has been in the range bound within the range of 40 pips (91.50 – 91.90) for such a long time.

Unless you are scalper, probably it should be better off to wait the trade until the break-out happens.

Note the bottom of this range seems to be very rigid – the cluster of DPP, WPP & MPP.  Thus I would rather wait for Long trades.

Also I wouldn’t call it crazy to just long from the bottom, hoping the price will break the ceiling, only because the bottom is rigid.

 

2015-08-17_13-32-21-AJ

But the textbook trade will be the break-out strategy.

 

YJ Baik – Forex.Today @ Tokyo

 

 

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