[AUDJPY] Bearish trend continuation signal
[AUDJPY] Bearish trend continuation signal.
I had been waiting on some sort of retrace to the .236-.50 fib level of the previous move. Price retraced up to the .236 which is also a Quarter Point and a previous level of structure. We recently made another Lower Low on the H4 chart and printed a bearish engulfing candle after atleast a 2 candle pullback. The 9EMA is still under the 50EMA on the H4 timeframe.
I had been waiting on some sort of retrace to the .236-.50 fib level of the previous move. Price retraced up to the .236 which is also a Quarter Point and a previous level of structure. We recently made another Lower Low on the H4 chart and printed a bearish engulfing candle after atleast a 2 candle pullback. The 9EMA is still under the 50EMA on the H4 timeframe.
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