The buyers seem to be battling over this territory with the sellers, but from seeing the sellers coming in earlier in the asian session (1 Hour chart), it would seem that there could be more of this selling coming in to turn down price in a very wide channel- practically a range (Daily chart). AUDJPY is running a bit counter to the Yen buying on USDJPY, but I think the buyers here are a bit greedy, and don't see the previous Daily patterns of equalization, that give proper merit towards the potential of selling.
My entry may not be ideal, and this trade could be stopped out, but the risk to reward is good.
My entry may not be ideal, and this trade could be stopped out, but the risk to reward is good.
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