AUD/JPY Inverted SHS Pattern for a Possible Bounce
AUD/JPY Technical Analysis
- AUD/JPY has formed a bullish SHS pattern
- We should see bulls getting stronger
- If Equities move up it will move the AUD/JPY up too
- The price is close to Q L5 camarilla support
DAILY CHART GBP/USD
- The left shoulder bottoming
- The Head of the pattern
- The right shoulder bottoming
- Potential Move up
- Breakout lower
The price is currently at support. We could see a move up from the 79.50-80.00 zone but we need to see bullish momentum. At this point the M L3 camarilla is holding the price from bottoming out but if the price breaks the M L3 support then we will see a breakout. 79.50 is the breakout point towards 78.60. A bounce from the zone target 81.20 and 82.50.