Will AUDJPY be OVERSOLD?
AUDJPY has been on a prolonged uptrend, I use the parallel channel to establish the current uptrend. Now it's a possibility price action may break the uptrend with a series of lower lows and lower highs, price action is also in an equilibrium state where it's possible the final hit may exceed the prior lows. It is not common for a retracement pattern to exceed a trend, so I expect to be wrong however, if the trend was to be broken, I have a significant turning point at the XA 88.6.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.