AUDJPY Key Level Holds – More Downside Available | Aug 5th

AUDJPY – Role Reversal Level Confirmed
After consolidating for two months, the Aussie has resumed its downtrend and the second leg of that by recently taking out the 88.93 level. It then confirmed it as a key role reversal level as it pulled right back to it, then sold off another +150 pips since. It is possible the pair could test it again, so we’ll look to sell on pullbacks into the level, targeting 87.45 and 85.30 as there is a lot more downside available.

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