AUDJPY - Bearish divergence at resistance
A (small) bearish pinbar is rejecting upper channel resistance at 79.00. The pair has been very bullish over the past week and is due to make a retrace and this looks like it could be time.
As well as the key resistance levels, I can also see bearish regular divergence indicating weakness and possible directional change.
Stoch is also showing a sell signal.
I've set my target at 77.44 but I think 78.00 might be a more realistic target.
As well as the key resistance levels, I can also see bearish regular divergence indicating weakness and possible directional change.
Stoch is also showing a sell signal.
I've set my target at 77.44 but I think 78.00 might be a more realistic target.