Chart Patterns & Algorithmic Trader (Jan. 28, '20) (110)
AUDJPY Cup & Handle Pattern
s
Reviewed in CPAT
Aust Dollar / Japanese Yen (AUDJPY) is forming a Cup and Handle pattern on its daily
chart and trading near the breakout level of $76.649. C&H patterns are valid only when
price closes above the breakout level. A long trade is entered above the breakout level
with a stop placed below the lowest low of the mid cup $68.230, and the handle low
$72.532. Targets are placed at $82.871, $86.83 to $89.63.
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