Make sure to keep this one on your watch list, here we have AUD/JPY on a 1h chart with a bearish crab.
As you can see we have been trading within a range since the Brexit, creating multiple layers of support and resistance. Price is now heading towards our trendline for the third time, I'll be looking for a break with price moving straight towards our D point with a potential sell off in our reversal zone.
I will be going short from around 79.200 all the way back down to our trendline, we shall see if price continues to move lower or bounces. I'll be looking for additional analysis on the shorter time frames for an entry point, as always feel free to share any complimentary ideas and leave your opinion on this pair below.
It is up to 78.3, I am expecting a low back to 76(?). Do you see it coming even lower before re-bouncing up heading to your 79.20 prediction? Thanks for sharing Lew!
fxfxfx
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Time gave me the answer: NO, it is @79+ already. Good prediction, following
fxfxfx
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no need to answer anymore, it is already @79+. U said u were going SHORT at this level, what is your TP exactly? Thanks
LewisGlasgow
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Sorry I have just seen your comment, I didn't trade this pair and you can see why. My original TP was 77.000 depending on price movement!