AUDJPY BEARISH IDEA - POSSIBLE REVERSAL THIS TIME?

9 thg 5, 2020

Rising wedge followed by price touching top of trend line resistance. It should find support of 68.60 range sometime soon and hit back trend line resistance before making its way down to support of price range 64. RSI is following overbought conditions on 4H timeframe and it's the second reason to why it should reverse from here.

And again, nothing is certain. If the price breaks above this trend line, the bias will change once again.