AudJpy- I expect a violent drop

2021年1月17日

Since the beginning of November, AudJpy has risen 800 pips (more than 10%) and, as we can see from the chart, it almost has no correction.
I think things are about to change and the pair will dive.
From the technical point of view, AudJpy made a small double top after it passed above 80 and the Friday close found the pair just in confluence support of the ascending trend line and neck-line.
A break here will be the signal that the pair started correcting and the target for such a drop can be 77.
Also, a short trade for this pair has a 1:3 R:R ratio