philipmjtrading
Short

AUDJPY analysis for week ahead - 23/07/2018

FX:AUDJPY   Australian Dollar / Japanese Yen
My next pair on this weekly watchlist is AUDJPY .

We have had 4 rejections of our monthly key level of resistance at 83.619. Following our most previous rejection, we saw a 100 pip sell off.

A minor pullback was experienced but more small bearish momentum and our weekly close and bearish engulfing candle suggests we have broken this bullish trend and we could experience a stronger presence of the bears in this pair in the upcoming weeks.

I anticipate targets of 80.86 in the upcoming weeks if we get a strong confirmation of a break in this bullish trend we have been previously trading in.
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