Hi traders,
The AUDJPY reversed from a key resistance level and broke out of an ascending trendline and support level.
.
Currently, the price seems to be building a three-wave ABC zigzag corrective pattern labeled wave 2, and it has the potential to move further lower towards the 75.968 and 75.000 support respectively.
.
We will wait for the breakout of the blue counter trend line to confirm the bearish move or breaks below the red horizontal line @ 77.907 for a more conservative entry.
.
Thanks for reading!
Veejahbee.
The AUDJPY reversed from a key resistance level and broke out of an ascending trendline and support level.
.
Currently, the price seems to be building a three-wave ABC zigzag corrective pattern labeled wave 2, and it has the potential to move further lower towards the 75.968 and 75.000 support respectively.
.
We will wait for the breakout of the blue counter trend line to confirm the bearish move or breaks below the red horizontal line @ 77.907 for a more conservative entry.
.
Thanks for reading!
Veejahbee.