AUDJPY: A Bearish Flag Pattern Provides a Great Sell Opportunity

AUDJPY has been moving in a short-term downtrend. Recently, it has arrived at a new low at the 87.50 level. From 87.50, the price formed a bearish flag channel, aiming to retest the previous support area of 91.50 ~92.00. From that price level, we will observe whether the price would consolidate and then fall to break the uptrend line. After a breakout, we will prepare our sell entries at the trendline to capture the retest.