AUD/JPY Further Downside Expected

AUD/JPY Technical Analysis

• Daily close suggests further down
• Trend is bearish
• 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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Cheers and safe trading,

Nenad