FX:AUDJPY   Australian Dollar/Japanese Yen
38 0 2
End march we saw a sudden strenght on yuan but recovered back to previous resistance.
Now we are back very close to previous resistance and price is either bounce of or breakout but it seems that the bulls are back losing momentum and the resistance is likely to reject price lower to the previous support trend wich is at around 83.000 The RSI shows divergence and gets close to overbought territory

On the other hand If price decides to break the resistance line this means that there is a valid Head and shoulders pattern and price could go all the way up to 90.000 or even a new uptrend !

I will short the pair closer at previous resistance and even if it breaks our risk would be little this is why I would trade AUDJPY             and possibly cutting or adding positions depending on the economic report releases
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