AUDJPY has been in a bearish trend, forming lower lows and lower highs. Currently, it is ranging in a tight set range in a bearish trend and can continue moving down towards the next support level. After the breakout of this support, we will take the short position. Either on the retest, or on the impulse. The price for our shorts would be 87.50, till the support level of 86.20.

The ascending trendline has broken out for sells and has been validate by the market. This validation has triggered the bearish sentiment across the pair.

There is no retracement indication on the pair as of now.

EMA 50 is bearish and is on the verge of being retested at the resistance or slightly below it.

RSI is at 40. It needs to be neutralized at the 50 level in order for the market to align with the chart technical analysis for the short position.

Bearish on AUDJPY

Apr 06 2023