FX:AUDJPY   Australian Dollar / Japanese Yen
As you can see we have worked ourselves to a key level. From the daily chart we have a lot of resistance in this area and slightly above. I also see that momentum is slowing as we approach the 83.52 handle. I just need to see sellers show up with some strength. Roughly come back and test the 83.00 handle and then I would like to see buyers attempt to come back with some struggle. If on a smaller TF the momentum of buyers slow as we get back to the 83.52 handle I will short it at this point. My SL will be around 83.80 if this scenario plays out. My target would be around the 81.50 handle

If this plays out, it would make this be the first lower high in a while from the daily and that is my first sign that a down trend could be activated.

Buys are currently off the table for me. The only way i could buy this is if er breach the 84.50 handle with some aggression and then struggle to pullback and test it.



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www.urbanforex.com/

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