Short Term Possibility For AUDJPY

This post is written by Henry

Looking at the current price action for AUDJPY pair from the weekly chart I believe that this price is currently making a correction downward move since it is rejected many times already at resistances area around 81.360 level.

Short possibility occurs in the lower time frame such as hourly chart if this pair is making some retracement move to the upside today.

As usually, We can try to find some sort of prove from the price action itself when it meets resistances whether is is a fibonacci, pivots or previous lows.

If this pair is continuing it’s move to the downside today, we should look for possible major support area which I cover by the red line picture.

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