AUDJPY: Waiting for bearish signal to confirm sell opportunity
Updated
The AUDJPY pair has successfully broken through the 0.90 resistance level, but with decreasing momentum as indicated by the oscillators. Additionally, reversal candles have started to appear, and the price has touched the daily 100 moving average. If the price does not continue to rise and responds to the previous indications, we may have to wait for a bearish signal at the 0.8995 level, which could be considered a selling opportunity with a target of 0.8915. However, if the price continues to rise, it will face several factors that could support its upward momentum, including the monthly downtrend line and the weekly upward trend line, as well as the 100 and 200 moving averages on the 4-hour timeframe.
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Trade closed: target reached
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