Bearish outlook on AUDJPY
On the H2 time frame, we are seeing bearish order flow and a pullback to test its resistance zone at 83.97, in line with the 78.6% fibonacci retracement presents an opportunity to play the drop. RSI is also showing further upside before prices entered the overbought region and Ichimoku is showing signs of bearish pressure, in line with our bearish bias. That said, there is a chance that prices could continue its downtrend from here as it is currently holding below the 100 EMA which acts as dynamic resistance.
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