AUDJPY - SELL IDEA

Looking at AUD/JPY on the 15-minute chart, the setup indicates a potential short opportunity. We've just completed a corrective wave (3) to the upside, which is typically followed by a retracement or continuation of the downtrend. The price is showing signs of resistance near the 98.30 level, with a potential drop to the 0.382 Fibonacci retracement level around 98.113.

This suggests that the market could be gearing up for a downward move as it enters wave (4). Given the overall wave structure, this could be a key area to consider short positions, aiming for the lower Fibonacci levels as the market retraces before potentially continuing its upward trend.