aud/jpy short set up
On the aud/jpy short set up, I see a potential bearish reversal.
Price seems to be in contact with the resistance zone several times so I'm going to go ahead and suggest price will be driven lower hopefully towards the newly formed lower low.
Fib shows 0.382/0.618 retracement depending if you've used the lower low body or wick. Delving into the lower timeframes, price has yet again touched the resistance zone forming a double top which should ALSO lead to a triple top if price decides to drop lower than the resistance zone.
All this will be shown through pictures of the 4hr/1hr timeframe.
Price seems to be in contact with the resistance zone several times so I'm going to go ahead and suggest price will be driven lower hopefully towards the newly formed lower low.
Fib shows 0.382/0.618 retracement depending if you've used the lower low body or wick. Delving into the lower timeframes, price has yet again touched the resistance zone forming a double top which should ALSO lead to a triple top if price decides to drop lower than the resistance zone.
All this will be shown through pictures of the 4hr/1hr timeframe.
Penafian
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