The AUDJPY is in a range and easily tradeable by selling from resistance and buying from support. 

We will be selling at the resistance right now. Until this range is broken out on either of the sides, there is no solid trade with other technical factors being aligned. 

The ascending trendline is broken out sells and is being validated by the candlesticks. Once the candles have been validated, we will be confirmed for the shorts. 

Both the EMA's are bullish right now but the EMA 50 is on the verge of being broken out for sells. Once this is done, it will be another added confirmation for the market to continue moving down. The death cross is still bullish right now. EMA 200 retest will be our profit target. 

RSI is at 47 and CCI is at 27. Both the oscillators are near their neutralized levels and will be in the bearish region below the neautralized levels. This bearish region is in confluence with the range bound market currently. 

A range bound short selling AUDJPY

Apr 18 2022