AUDJPY Short idea
Higher timeframes are also bearish on this pair but we saw a huge rally which pushed price action to our monthly resistance zone around 76.000
From that level we saw a 4hour head & shoulders pattern which presented a very strong reversal after the neckline broke.
With this reversal and overall analysis in mind we will remain with a bearish sentiment and will continue to look for short opportunities.
At the current level we want to see strong bearish setups confirming this bearish continuation. Look to target toward our weekly support around 70.000
Higher timeframes are also bearish on this pair but we saw a huge rally which pushed price action to our monthly resistance zone around 76.000
From that level we saw a 4hour head & shoulders pattern which presented a very strong reversal after the neckline broke.
With this reversal and overall analysis in mind we will remain with a bearish sentiment and will continue to look for short opportunities.
At the current level we want to see strong bearish setups confirming this bearish continuation. Look to target toward our weekly support around 70.000