AUD/JPY Day Trading Analysis 📋On AUD/JPY, it's nice to see a strong sell-off from the price of 97.350. It's also encouraging to observe a strong volume area where a lot of contracts are accumulated.
I believe that sellers from this area will defend their short positions. When the price returns to this area, strong sellers will push the market down again.
A strong S/R (Support/Resistance) zone from the past, combined with the downtrend and strong volume area, are my main reasons for this short trade.
Happy trading,
Dale