29 Mar 2017

AUD/JPY POLARITY CHANGE

AUD/JPY H4

After bouncing higher from the 9-month-long rising trendline the rate has stalled a bit at the former support area which should now become new resistance.

I am looking for a strong rejection lower to target another test of the trendline around 84.20.

A break of the resistance area above 85.40 would invalidate my bearish bias for the pair as it would indicate a move higher to test another potential reversal area around 86.00.


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