AUDJPY - Patience is key

Hello Traders.

This week on AUDJPY, time is on your side with this pair.

If 70.000 holds, there is going to be a push in the bearish direction with this pair. (Moves within red ellipsis)
Once it breaks its smaller timeframe trendlines the pair could crash down to either 67.000 or 64.000.
After this, depending on where new resistance areas may be, I could then see it coming up to the trendline at 72.000-73.000 if it rebounds at 67.000.
However, if it hits 64.000 it may retrace back up to 67.000 before its next move becomes clear.

Please share your views, like and comment and even give me a follow :)

Thanks, Roo.

Please note, I am not a professional trader and do not control the market. These are simple ideas based on what I see and what I have learnt. Risk is on you if you choose to follow as I cannot be responsible for your Forex account.

Comment:

UPDATE; 27th April 17:15

Hi Traders, as we can see making a move into our 70.000 zone
Excellent if you bought at the start of play, but hoping for reversal soon.

Thanks, Roo :)

Comment:

Hello Traders.

AUDJPY Follows where projected on the daily, touching support and now on a downward spiral. Could this pair go as low as 64.000? Will update this chart as necessary!