The AUD/JPY currency pair is currently showing downside potential after reaching its recent high, which raises the possibility of a trend reversal. The bearish outlook is reinforced by the formation of a swing high, indicating fading buying pressure.
In addition, price action is showing signs of forming a double top pattern, a common technical signal for a shift from bullish to bearish momentum.
Recommendation:
- Sell AUD/JPY
- Entry: 96.320
- Take Profit: 95.920
- Stop Loss: 96.620
*DISCLAIMER: All content in daily forex news is informative. PT. Maxco Futures does not guarantee its accuracy and completeness. The company is not responsible for investment losses due to the use of the information contained.
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