AUD/JPY: Short is more likely
Our Expectations: Declining trend, correction of the declining movement, which gives us better entry levels for short positions with SL: 83.66
Alternative scenario: If the price goes above 83.66 it will change the negative outlook to positive, where we must be "long"
Commentary: Declining trend, breakaway of a flag formation, which shows us, that the movement is short.
Correction to resistance levels of 83.45, test of the breakaway.
Pin bar on resistance levels; negative price action signal
Price under the Kijun-sen blue line; Chikoi Span is under the cloud, price under 50EMA - negative signals
CCI(50) under 0, CCI(14) under 100 - negative signal
Stefan D. Angelov - Head of Stocks Trading
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