AUDJPY Short Term Bearish Analysis

AussieJPY had a straight Bullish run for several days now, and on the daily it is now at past support that can become future resistance. if you take a look here at www.mataf.net/en/for...tools/currency-index and you pull up the Aussie Daily chart and you pull up the JPY Daily chart you will see that the Aussie is hitting a past support that can become future resistance and the the JPY is hitting a past resistance that can become future support so now when combined as the AUDJPY it becomes very strong that it has a good chance going down short term.

Now in order to confirm the move to put some more odds in m favor I'm waiting for the hourly chart to break down from its most recent support level that it has formed then I will look to enter going for about 60 pips or so till the next level of resistance that can become future support...

I hope this makes sense to you if yes let me know, and even if not tell me why you think differently tell me what you see that iam missing.

Thank You!

Trade closed: target reached:

This trade worked out well, I didnt get involved bec I wasnt happy with the Risk reward bit overall it was a great trade