AUDJPY appears to be forming a bearish setup. Earning are in a couple of days which may tip the scale and send the pair sliding downward. It may have additional upward momentum before heading down, but it is hard to tell. I would suspect buyers would continue to jump in since the forecast/expectations are high. Over the next few days, after the 8th, if things go as planned I would suspect move to the downside. What do you think?
A lot of people are now jumping on the bearish bandwagon, which is normally my signal to sell. This may slide a little lower over the next few days...but there is a chance of a huge spike to the upside before it heads lower. The spike will mostly trigger many stops. If you are staying in this one be careful.
LoserStockBoy
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Correction: my signal to buy back or close out my positions.