AUDJPY 1hour Analysis December 15th, 2020

Price is forming a falling wedge which favors a corrective bullish pattern. We are looking for price to find support around 78.20. We can enter aggressively there on bullish engulfing, or we can wait for a break and retest of the corrective structure. Looking for a clean break above 78.4. Drop down timeframes to play the retest, and enter on bullish engulfing/variations.