Potential Short Opportunity for AUDJPY

6 May 2020

This pair has a recent bearish momentum. On the daily timeframe, it has finally broken out of its rising wedge formation. Currently, i believe it is consolidating to gain more liquidity for a further move to the downside. To confirm this analysis, i will only enter after the breakout of the identified support. I will open a short position during a pullback after the breakout.