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We have seen a huge sell off on AUDJPY in December and the pair dropped around 600 pips in first couple of weeks of December and since then price have retraced around 300 pips which is about 50% retracement of bearish impulsive move.
The yearly closing price on this pair is 97.75 which is close to an important zone 98.00 to 98.65 which was an important decision zone in past both for sellers and buyers. As such I would be looking for price action on hourly charts to anticipate next move on this pair. Moreover, there is another important supply zone at 99.90 to look for selling opportunities.
The yearly closing price on this pair is 97.75 which is close to an important zone 98.00 to 98.65 which was an important decision zone in past both for sellers and buyers. As such I would be looking for price action on hourly charts to anticipate next move on this pair. Moreover, there is another important supply zone at 99.90 to look for selling opportunities.
