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AUDJPY Analysis

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FX:AUDJPY   澳元/日圓
Currently in a downward trend on the weekly timeframe, with a nice pullback on the 4h time frame. Price has rejected pull back on the 78.6 Fib line, waiting for price to break counter trendline and 61.8 Fib line, then retest for confirmation of continuing overall downtrend. Looking to Short with our 4 confluences being the breaking of countertrend line, breaking of 61.8 Fib line, breaking of previous structure line 65.753, and breaking of EMA line. 80 Pip stop loss, potential 250 Pip gain for a risk reward ratio of 3.
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