AUD/JPY further downside expected
|AUD/JPY technical analysis
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Daily close suggests further down.
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Trend is bearish.
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Q L3 possible target.
MEGATREND MAs: Bearish
D1 chart AUD/JPY
1. Swing high.
2. Swing low.
3. Retracement.
4. Entry.
5. Target.
The AUD/JPY is forming an outside bar. A candle which will mark the downtrend continuation. We could see a continuation to the downside if the daily close gives a signal candle (by Megatrend trading course). Targets are M L4 followed by Q L3. Selling the rallies (as you can see in my live account) is the best strategy at this point. Pay attention to the daily close for more selling pressure if you are late with the entry.
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