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Short

AUDJPY Reversal is possible

FX:AUDJPY   Australian Dollar / Japanese Yen
Hello friends, the daily candles in AUDJPY are getting smaller indicating that the bulls might have run out of steam.

I will expect risk aversion to hit the market very soon once the market participants focus on the gloomy economic outlook of the world.

So, when that happens, currencies like AUD will take a hit and Japanese Yen will gain strength. So, AUDJPY could drop very sharply.

Comments

We living in a clown world at the moment and caution is highly recommended. Looking at the AUDUSD pairing it is back to the long term down trend too. This bull run has the power of the Fed behind it.

Thanks for the analysis!
+2 Reply
good setup here is mine
+1 Reply
👍🏼
+1 Reply
I look forward to seeing how this plays out by the end of the week. Really helps me to understand the charts, viewing your analysis
+1 Reply
Yes, you're right. I see that gap acting as resistance.
+1 Reply
Thanks for the insight
+1 Reply
Hopefully 😃
+1 Reply
I agree. It certainly seems due, and that gap from back in March has now been closed...
+1 Reply
Thankyou Prof. Will keep that in mind.
+1 Reply
Thank you for the analysis professor! Helps me grow as a trader
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