AUDJPY Range High| .50 Fibonacci| Range Deviation| Bearish PA

Evening Traders,

Second analysis – AUDJPY- price putting in a range deviation, any rallies are to be faded.

Points to consider,
- Trend bearish PA
- Range High Resistance
- Range Low Support
- Oscillators Extended
- Low Volume

AUDJPY’s immediate price action is bearish by establishing a range deviation; this allows us to have a bearish bias on the market.

The Range high is current resistance; a respect of the level will establish a bearish retest.

Range low is the immediate support; price is likely to respect this area due technical confluence with the 200 EMA.

Both oscillators are approaching oversold conditions, indicative of a short term oversold bounce.

The current volume nodes are below average, an influx is highly probable when testing key trade locations.

Overall, in my opinion, AUDJPY is a valid short with defined risk. Price action is to be used upon management/ discretion of trade.

Hope this analysis helps!

Thank you for following my work!

And remember,

“Only The Game , Can Teach You The Game” – Jesse Livermore