AUDJPY shows strength after a price drop of 1200 pips

AUDJPY shows strength after a price drop of 1200 pips

The price broke out of a bullish triangle pattern thus increasing the chances of a bullish wave.

Tomorrow we have the BOJ decision on interest rates and the market expects the BOJ to raise rates.
However, it may not happen as many are already expecting.

AUDJPY is showing a clear reversal signal after 1200 pips down.
Generally, this upward correction is required in this situaion, as shown in the chart.

I will share later a more details analysis on JPY pairs.

You may find more details in the chart!
Thank you and Good Luck!

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