MrVolcano
Short

AUDJPY - Bearish divergence at resistance

FX:AUDJPY   Australian Dollar / Japanese Yen
52 0 4
A (small) bearish pinbar is rejecting upper channel resistance at 79.00. The pair has been very bullish over the past week and is due to make a retrace and this looks like it could be time.

As well as the key resistance levels, I can also see bearish regular divergence indicating weakness and possible directional change.

Stoch is also showing a sell signal.

I've set my target at 77.44 but I think 78.00 might be a more realistic target.

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