AUD/JPY Consolidation in The Downtrend Should Trigger a Bearish Breakout

2 min read
Nenad Kerkez

Nenad Kerkez

Head of Trading

Dear Traders,

The AUD/JPY has formed a sideways consolidation pattern while still capped below W H3 and HTF BB resistance.

Wizz LVL 8 should break and the price then will proceed down. There are multiple bearish signals but the price is still supported. 4h close below 72.03 targets 71.50 and 70.94. Look for a bearish continuation and a possible breakout as long as the pair is capped below 72.50.

The analysis has been done with the CAMMACD.MTF template.
For more daily technical and wave analysis and updates, sign-up up to our ecs.LIVE channel.

Many green pips,
Nenad Kerkez aka Tarantula FX
Elite CurrenSea

Leave a Reply

avatar

This site uses Akismet to reduce spam. Learn how your comment data is processed.

  Subscribe  
Notify of