The Japanese Yen was experiencing a sell off towards the last week of 2022, AudJpy had retraced after a bull run presenting a good buying opportunity on 4th Jan 2023.
The pair had begun establishing a downward trend after trending upwards for several weeks, we saw some retracement on the established down trend which yielded a good selling opportunity on H4.
The pair had established a upward trend on H4, and had retraced quite a bit to a strong support hence offering a very strong possible long entry which worked quite well.
