AUDJPYi,H4-Daily, Strength Test and Technical Analysis
H4-Strenth test

Using H4 Strength Test for major currency pairs giving confidence to analyzing the best pairs Strength/Weakness.
AUDJPYi,H4 Chart

Price showing roll reversal head and shoulders and moving into a bearish trend, Price has started at just below this week's WM3 Pivot Point and heading to the WM1 weekly Pivot Point target, Which we can consider a level of support and previous resistance around the 14th September, With a Fibonacci indicator drawn to projected price line hitting support and making a LL (lower low) I see a retracement going to the 38.2 where I will set a pending order set to enter this trade, the 38.2 Fibonacci predicting 161.8, I see a second retracement to what was support, now becoming resistance, I will have a second pending order set to enter this trade at this position.
AUDJPYi,Daily Chart

As price action heads down, a redrawn Fibonacci line to the newer LL (lower low), I see added confluence of price heading to resistance and the 38.2 predicting the 161.8 where a third retracement could take place to what was support now becoming our new resistance level, I will have a third pending order set to enter this trade, as price heads down to the previous support level around 7th June.
About The Post
About The Forex Analyst
Completed the MetaTraders Coarse through the South African FXBootcamp Mentor - Ryan Gandalf van Jaarsveld
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