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Title
AUDJPY Potential for bearish drop towards intermediate support
Type
Bearish Breakout
Preference:
Looking at the H4 chart, my overall bias for AUDJPY is bearish due to the current price crossing below the Ichimoku cloud, indicating a bearish market.
If price breaks this level, we can possibly see price pivot down towards the intermediate support. Resistance will be where the recent high is.
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Desmond Leong runs an award-winning research firm (The Technical Analyst finalists 2018/19/20 for Best FX and Equity Research) advising banks, brokers and hedge funds. Backed by a team of CFA, CMT, CFTe accredited traders, he takes on the market daily using a combination of technical and fundamental analysis.