Make sure to keep this one on your watch list, here we have AUD/JPY on a 1h chart with a bearish crab.
As you can see we have been trading within a range since the Brexit, creating multiple layers of support and resistance. Price is now heading towards our trendline for the third time, I'll be looking for a break with price moving straight towards our D point with a potential sell off in our reversal zone.
I will be going short from around 79.200 all the way back down to our trendline, we shall see if price continues to move lower or bounces. I'll be looking for additional analysis on the shorter time frames for an entry point, as always feel free to share any complimentary ideas and leave your opinion on this pair below.
As you can see we have been trading within a range since the Brexit, creating multiple layers of support and resistance. Price is now heading towards our trendline for the third time, I'll be looking for a break with price moving straight towards our D point with a potential sell off in our reversal zone.
I will be going short from around 79.200 all the way back down to our trendline, we shall see if price continues to move lower or bounces. I'll be looking for additional analysis on the shorter time frames for an entry point, as always feel free to share any complimentary ideas and leave your opinion on this pair below.
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