Fxprotrader
Short

AUDJPY: Will Daily Downtrend & Median Line Push Price Lower?

FX:AUDJPY   Australian Dollar / Japanese Yen
299 0 10
Price has reached a long term downtrend at the same level where it tests the median line of an active pitchfork . The slope is valid and what we should do is watch closer for any sell setup completion based on our strategy. In a lower time frame we may see that we have a double top formation at current level, another factor to think going short. In case price breaks above the downtrend and median line , we look no more for shorts.
Comment: Double top at median line
Comment: Previous image is the long term downtrend ;) Double top is below
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