AUDJPY: Rejection on 1D MA200 and Channel's Top. Sell.

AUDJPY has now had two rejections in less than a week on the 1D MA200, which is also at the top of the six month Channel Down pattern. The 1D technicals have already turned neutral (RSI = 50.136, MACD = 0.500, ADX = 19.362), the 1D RSI has been trading sideways inside a Rectangle while the price was on HH/ HL, which indicates a Bearish Divergence and the confirmation for a complete bearish reversal will come if the price crosses under the 1D MA50.

This is technically the bearish leg to the new LL of the Channel Down. We are targeting the S3 (TP = 86.050).

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