OANDA:AUDJPY   Australian Dollar / Japanese Yen
as we can see here on the AUD/JPY chart that the market has been trending on a downward tunnel. within this trend, the market has been trending strongly between 2 main support and resistance trendlines, however, between each interaction of these levels there has been a lot of miniature moves with different patterns. previously the market has been moving along the support tend level with a minor temporary resistance level, while the market was within this region it approached another major support level area, and here the market had a little fakeout to the downside to then shift momentum back to the upside to break through the small tunnel area and then to test the prior minor resistance level and used it as a new support level. due to the nature of this pattern, we are looking for buyers to drive price to the higher resistance levels and lead to new structure.
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