AUD/JPY: 4-hour
Ooh, looks like this retracement play on AUD/JPY is starting to come to life! After a long period of consolidation, AUD/JPY is showing signs of pulling back to an area of interest on the 4-hour forex time frame. As you can see, the 94.00 major psychological level is close to the 50% Fib and the former resistance. To top it off, the 200 SMA is right in that area too! Stochastic is indicating oversold conditions, which means that the pair is ripe for a bounce, which might last until the previous highs.
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