fosterns2023

AUDJPY idea

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FX:AUDJPY   豪ドル/円
I think this area of consolidation is going to be a continuation of the previous bearish movement. As we can see it’s forming a small descending triangle coming from a downward slope which is a good indicator of a continuation. If you look at the smaller timeframes, this triangle is a lot more transparent. Also, yesterday, this pair broke through a strong daily support trendline. So my bias is bearish and my TP is around 67-67.1. However, if this does break to the upside I can see it going back to the 68.3 area.
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