AUD/JPY is posing some interesting setups. The displays a textbook chart pattern (blue dotted lines),
which AUD/JPY broke through 5 days ago. So even though the overall trend is , the market is currently in 'Pull back mode'
and is likely to retest the 88.400 area (Red ) before continuing its bear trend.
Note: Keep an eye out for evidence at the 88.400 level before entering this trade.
CONCLUSION: bias pending daily resistance retest.
1. Chart Pattern - marked by blue dotted lines
2. - found at the tip of the pattern
3. - the previous candle on
4. - evident on the weekly chart
1. ( )
2. Price rejects 86.753 area, a key monthly/daily - marked by red dotted line.