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AUDJPY – Key Resistance Level + Corrective Structure Holding | Jan 14
AUDJPY – Key Resistance Level + Corrective Structure Holding (1hr chart)
Continuing on with our bearish bias that we talked about in the Jan 12th members commentary, we’ve been looking to sell on a pullback towards the key resistance level at 83.50.
The pair hit a high of 83.39, double tapping here before selling off. The continuation of the corrective structure means the bears are still in control and a break lower is the more likely scenario.
I’m still looking to get short for an eventual break of the 81 handle and Jan 10th lows with scope for a move sub 79.
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