AUDJPY bearish but we could see a retracement soon

As I have explained in this analysis, AUDJPY bearish sentiment exactly came to the fore and AUDJPY dropped hitting our targets. Over the last few days, particularly at Month and Quarter End, it was no surprise that most Equities Markets reached key resistance levels. Some Fund Managers practice swooning, largely an unethical practice of buying shares before the end of a reporting period to improve their returns on their statements. Therefore, that's why I say its no surprise that Equities have dropped at the start of a new Quarter. In addition, Commodities prices have dropped the past few days as well, mainly Oil now down to USD35/bbl, I expect this to start to drag the Energy Sector within the US Equities again.

Technically AUDJPY is still bearish but it could possibly start to retrace. The retracement could give us another opportunity to go short and we can clearly see another POC zone in the case AJ retraces. 84.80-85.00 (L4,50.0,EMA89, BR point) is the zone where next set of sellers are and only on retracement the pair should be sold into as swing traders might still hold their short positions. Next target is 82.30-16 zone. All camarilla levels are broken to the downside so from technical perspective the pair could use a retracement to get into the equilibrium again.