Price move sideway range from recent bearish trend. Past few candlestick bar on daily chart shows the pair taking a short breath after strong bearish movement.
We might see a positive opportunity short bull for this pair towards daily 4hrs/daily resistance line.
Hence looking for a affirmative signal to buy this pair.
AUD/JPY has been in a downtrend on the 4H chart for the last 3 weeks, the down channel being a corrective structure of a bigger uptrend. Now we are looking on the price breaking out of the channel, suggesting a changing in forces on the market towards bulls side.
Long positions will be initiated if the price re-tests the downtrend channel or broken support...
