Last JPY pair on my watch is AUDJPY which is also showing signs of bearish reversal development.
After the price has hit the higher time frame highs, no bullish continuations. Instead, price reverse down with bearish price action on the lower time frames.
Lower low, lower high to push the price down, and finally a strong impulse phase to confirm the downside momentum
Now that price has broke out of the expanding structure and consolidating, best to look for further sell entry down the the next low to continue the bearish trend.
Thank you
تعليق
⋅
HTF:
تعليق
⋅
Price is pushing down now:
تعليق
⋅
Price is impulsing down, watch for further correction for more downside next week:
تعليق
⋅
Price hits the previous swing lows no further bearish downside instead bullish reversal up move signaling an end of the bearish trend
تعليق
⋅
wait for price to form consolidation here to confirm the downside move
Always the best 🙏