AUD/JPY Technical Analysis

AUD/JPY was in uptrend
Market is having a retracement
Historical sellers are pushing the price lower
Q H3/M L4 targets are possible

Historical sellers
Swing low
Temporary high
Sellers
Target

The price is bearish. Historical sellers are rejecting the price. We should see a continuation move down as there is a free room till next support. Watch the drop below M L3 and Q H4 camarilla levels. If the price manages to gain additional momentum down it will be due to JPY strength. It's the NFP with all accompanying data today so watch for the move during and after the NFP. Protection of profits is advisable as markets trade with compounding trend at this point and the NFP might change the overall picture.