AUD/JPY: down trend and mid-term choppy movement
Fibonacci correction at levels of resistance at 50%- corecction
Bear candle at levels of resistance at 81.55 - possible double peak
Change in short-term price tendency, lower peak, which is a signal for long position fatigue and a possibility for a new new downward corrective movement, of the last upward movement.
Pin bar and price below it's bottom which increases the possibility of a lowering.
RSI went below 50 - negative signal
In this situation we can wait for a correction of the last bear candle, at 50% Fibo for better positioning
Another option for trade is if the price goes below the bottom of the bearish bar and registrars a new low which will indicate that short impulse is at force.
Stefan D. Angelov - Head of Stocks Trading
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