AUD/JPY Selling at Historical Resistance
November 5, 2021
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.
