We’ve seen yen weakness throughout recent weeks. However, bulls having been having a hard taking this pair higher. Part of the reason is the RBA not showing any intentions to raise interest rates anytime this year. Because of that, I’m looking for setups to sell this pair

Zones

Resistance: Pink
Support: Green
Fibzone: Yellow

AUDJPY Daily

Price started rising after bears reached their April monthly target of S2. We opened at M3 this month and bulls look to be out of steam.

AUDJPY H4

We opened at Weekly M2 this week. Price is currently sitting at M3 and it seems to be failing to make a higher higher. This is a signal that bulls' time is up and its bears turn to take this pair down.

AUDJPY M15

Price is now testing the trendline it broke today. Although this is a good entry, I'll be more comfortable if price makes a lower low, then my entry will be on next the lower higher. (I'm conservative because both these currencies have been weak recently)

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