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Title
AUDJPY potential for bearish drop towards previous swing low
Type
Bearish Reversal
Preference:
Looking a the H4 chart, my bias for AUDJPY is bearish due to the current price crossing below the cloud, indicating a possible shift to bearish market structure.
Looking for a possible sell entry at the pivot level for price to head towards the 1st support where the previous swing low is.
It’s worth nothing that there is an intermediate support level here that price might bounce from.
Source: Tickmill