AUDJPY 60 PIP SELL

6 Eki 2020

AUDJPY showing great potential for a 60 pip drop. We currently have a strong support level which has already rebounded off twice. The 0.50 fib level also fits the line of support very well which further makes me think that the price will once again reach this price. During this time a double top formation has also formed with a very strong neckline on the same support. With price dropping below the 50 EMA and the 10EMA crossing the 50 I can now see the momentum shifting to the downside. TP is set at the 0.50 fib level and SL in line with the double top.