AUDJPY SHORT APPROCHINNG
AUDJPY Price has been travelling in a descending channel marked out in blue and has been consolidating for a few days. Price broke above the area of consolidation and made a black ascending channel to touch the top of the descending channel and while doing so it had a little breakout to the upside of the descending channel before price dropped out of the ascending channel back into the descending channel.
We believe price will now come back up to retest the inside of the descending channel at the 0.5 retracement level like it previously did like in the yellow eclipse previously
IF PRICE HITS STL , PRICE WILL MOST LIKELY FOLLOW THE RED LINE.
We believe price will now come back up to retest the inside of the descending channel at the 0.5 retracement level like it previously did like in the yellow eclipse previously
IF PRICE HITS STL , PRICE WILL MOST LIKELY FOLLOW THE RED LINE.
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