My next pair on this weekly watchlist is AUDJPY.
We have had 4 rejections of our monthly key level of resistance at 83.619. Following our most previous rejection, we saw a 100 pip sell off.
A minor pullback was experienced but more small bearish momentum and our weekly close and bearish engulfing candle suggests we have broken this bullish trend and we could experience a stronger presence of the bears in this pair in the upcoming weeks.
I anticipate targets of 80.86 in the upcoming weeks if we get a strong confirmation of a break in this bullish trend we have been previously trading in.
We have had 4 rejections of our monthly key level of resistance at 83.619. Following our most previous rejection, we saw a 100 pip sell off.
A minor pullback was experienced but more small bearish momentum and our weekly close and bearish engulfing candle suggests we have broken this bullish trend and we could experience a stronger presence of the bears in this pair in the upcoming weeks.
I anticipate targets of 80.86 in the upcoming weeks if we get a strong confirmation of a break in this bullish trend we have been previously trading in.