AUDJPY TREND CONTINUATION

11 ott 2018

AUDJPY 4hr chart continues it's downtrend making lower lows and lower highs. We are now seeing the market pullback into minor resistance at 79.80 previous structure lows. We can also see looking left that it has been used as support and resistance numerous amounts of time in the past adding to our trade idea. We also can see a 50% fib retracement lining up with the area as well as the 127.2 fib extension at our key weekly support. Looking for the trade from the resistance with stops above the highs and targets of the weekly support.