Heading for the switchback

FX:AUDJPY   Australian Dollar / Japanese Yen
134 0 0
No reason to stop being bearish on AUD/JPY             yet, but in the larger time frame this pair may soon have some hard time falling much lower than it is now. It's facing both horizontal and rising support levels. My bet is the market will get to the red switchback line (and subsequently probably reverse and retrace upward). Keep in mind, it's actually retracing downward now in an upward long-term channel.
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