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┬ásell 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.

audjpy price action

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I'm Chris Capre, Founder of 2ndSkiesForex. I help traders of all levels change the way they think, trade and perform. As a professional trader, I specialize in trading price action. As a teacher, my passion lies in showing you how to re-wire your brain for successful trading. Want to improve your edge right now? Visit my Price Action Course page.

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