AUD / JPY: Possible short-term correction

AUD / JPY: Daily chart

Price below horizontal resistance

Prce action: 2 equal resistance tics – likely to fall

DeM: rotate from overbought zone – a negative signal

CCI (50) rotates from area of over bought market – possible reversal of the price

SL: 86,765

Alternative scenarios: if the price crosses above the shadow of the last bar, is likely to see new bullish momentum.


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