AUDJPY Idea

Hello Traders!

Similar to the NZDJPY, we are at a major resistance level at the 68.5.

On March 20 we broke this level, did a retest and fell another 800 pips to the downside which is a major drop.

At the 66.5 level we have our 61.8% Daily Retracement that aligns perfectly with the W pattern neckline.

I will be looking for bearish price action next week to enter a short trade setup.

If it does not happen, i will look to sell on the next resistance at 70.2.

Thank you :D