JLJ002500

AUDJPY - Resistance retest would provide selling opportunities

FX:AUDJPY   Australian Dollar/Japanese Yen
19 0 1
1M:
snapshot
Overall trend/channel down. Bullish pinbar formed new strong support. This support will need to be broken for continuation. The pinbar indicates the current correction could potential retest TL resistance before testing the ~72.40 support area .

1W:
snapshot
Interesting 1W chart. A double top formation before TL resistance retest.

BoJ may increase volatility . I'm hesitant to short at current levels. Spikes higher could provide a selling opportunity. First selling opportunity would be close to double top . Next would be at TL resistance. Look for reversal candles/bearish price action at resistance.


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