AUDJPY is testing the downside resistance
It is testing the 73.30 downside breakout resistance after the rejection from 76. For a downside extension and a higher probability of the short trade entries, we need to see a confirmed break below 73.30. A confirmed break below this level would lead to a downside extension and a test of 70.7. The overall medium-term is an uptrend but we need to see a confirmed break above 76 for an upside extension.
Note – We are inclined to short trade entries but only on a confirmed break below 73.30. From here long swing trades are possible as well with tight stop loss below 73
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