LAST WEEK BEARS WENT SHORT AT LAST WEEK’S WM3 AND THE BEARISH TARGET WAS HIT. AS BEARS BOOKED PROFITS PRICE PULLED BACK TO WHERE IT IS CURRENTLY. SO MAYBE WE SEE SOME FURTHER YEN STRENGTH THIS WEEK WHICH MEANS BEARS COULD BE LOOKING AT THIS AS A PULL BACK ALTHOUGH ITS NOT PERFECT BUT A BEAR AT RESISTANCE CAN ONLY SELL.

AUDJPY H4

21 AND 55 ARE FLAT. PRICE CURRENTLY AT WPP RESISTANCE WHICH COINCIDES WITH MM3 AND THE 38.2 FIB. NEXT LEVEL OF RESISTANCE AT WM3. IF BEARS GO SHORT HERE THAN THE TARGET WOULD BE WS2.

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