AUD/JPY is Setting up for a Retracement
March 12, 2021
1 min read
Dear traders,
The AUD/JPY is in uptrend but the point 2 of retracement showed a nice move down. We could assume that we might see a further drop.
The POC zone 84.30-84.60 is the point 3 where we might see a move down. If momentum persists we should see the price going towards 83.45, 83.10 and 82.66. The invalidation of the setup comes above 85.00, if the market makes a new high. Today is Friday, so we might see profit taking that will lead the price down.
The Analysis has been done with the Black Widow system.
Good trading,
Nenad Kerkez
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