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Australian Dollar / Japanese Yen
Short

AUDJPY Follow The Bearish Reversal Momentum

By jojofang0901
Updated

Hello everyone:

Last JPY pair on my watch is AUDJPY which is also showing signs of bearish reversal development.

After the price has hit the higher time frame highs, no bullish continuations.
Instead, price reverse down with bearish price action on the lower time frames.

Lower low, lower high to push the price down, and finally a strong impulse phase to confirm the downside momentum

Now that price has broke out of the expanding structure and consolidating,
best to look for further sell entry down the the next low to continue the bearish trend.

Thank you
Comment
HTF:
snapshot
Comment
Price is pushing down now:
snapshot
Comment
Price is impulsing down, watch for further correction for more downside next week:
snapshot
Comment
Price hits the previous swing lows
no further bearish downside
instead bullish reversal up move
signaling an end of the bearish trend

snapshot
Comment
wait for price to form
consolidation here
to confirm the downside move
snapshot
Chart PatternscorrectionFlagimpulseParallel ChannelpatternpriceactionstructureWedge
jojofang0901
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