AUDJPY forex technical analysis D1 | Our expectations:
The adjustment to levels of horizontal resistance and 61.8 Fibonacci provide a good opportunity to look for short positions with SL 79.85.
Horizontal resistance at levels 78.65 and two DeM Sequential levels, which for now seem to remain valid after the formed pin bar.
9th from DeM Sequential - a signal for likely reversal of the latest upward, corrective movement.
61,8 Fibonacci - Dynamic resistance, creating a possibility of price suppression and a new downward movement.
MA50 and MA200 in the bearish formation and downward price channel - the trend remains short.
Alternative Scenario: Breaking the price above the key horizontal levels and holding above it will break the negative scenario and we can expect a test of the upper diagonal resistance.
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