AUD:JPY - Symmetrical triangle

AUD:JPY - Symmetrical triangle

Hi again,

I posted details of a symmetrical triangle set up in CAD:JPY yesterday. With yesterday's weak close, AUD:JPY has now completed a similar formation.

It's pretty common for related instruments such as CAD:JPY and AUD:JPY to form the same chart pattern and good risk management practice involves having rules to limit the number of these similar set ups you take.

Not a bad idea to have them all on your watch list, however. This enables you to select the ones which trigger first or which represent the best risk reward.