AUDJPY: Sell continuation with two support levels in focus.

10 thg 7, 2023

AUDJPY is on a 3 week selling streak with the 1D time frame just turning neutral (RSI = 45.648, MACD = 0.510, ADX = 43.673) after more than a month in the bullish zone. The price is approaching the 1D MA50, where you can buy on a 2-3 days basis but we mostly focus on getting a sell on that bounce and target the HL trendline (TP 93.100) near the S1. Further selling can be done only after the price closes a 1D candle under the 1D MA200 and target the S2 (TP = 90.300). Until that happens, the HL will be a buy entry for us, targeting R1 (TP = 96.850).

Prior idea:

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