Fxprotrader

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

Short
Fxprotrader Updated   
FX:AUDJPY   Australian Dollar / Japanese Yen
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
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.