AUDJPY - Resistance retest would provide selling opportunities
1M:
Overall trend/channel down. Bullish pinbar formed new strong support. This support will need to be broken for continuation. The pinbar indicates the current correction could potential retest TL resistance before testing the ~72.40 support area.
1W:
Interesting 1W chart. A double top formation before TL resistance retest.
BoJ may increase volatility. I'm hesitant to short at current levels. Spikes higher could provide a selling opportunity. First selling opportunity would be close to double top. Next would be at TL resistance. Look for reversal candles/bearish price action at resistance.
1W:
BoJ may increase volatility. I'm hesitant to short at current levels. Spikes higher could provide a selling opportunity. First selling opportunity would be close to double top. Next would be at TL resistance. Look for reversal candles/bearish price action at resistance.
