AUDJPY - DOUBLE TOP? or TREND REVERSAL??

Australian Dollar / Japanese Yen (FX:AUDJPY)

Updated

FX:AUDJPY Australian Dollar / Japanese Yen

trendanalysis audjpy short long doubletop trendreversal buy sell pmgai pmg

$ can go in either 2 ways it can break the resistance its at. Or it can create an "M" formation (double top) and drop down. Wait for confirmation, and make the move but overall, $ has not dropped below the monthly support (71.103) since 2008, although $ has came down to the support it only touched it and revered its trend. (71.103) has been a strong support for a while now. I believe $ will make its way to the monthly resistance (81.388). I say this is a buy.

Comment:

meant double bottom not double top**

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