AUDJPY: Consolidation on Key Level

AUDJPY is standing for 6 days on a key daily structure.

On 4H the price is trading within a horizontal decision range.
Most of the time, the side of the breakout (4H candle close above/below) of the range will show the future direction of the market.

In case of a bullish violation, I will expect a continuation to 77.4 level.

In case of a bearish violation, the price will most likely drop to 76.0.

Be patient and wait for the decision,
then just follow the market.