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AUDJPY: Testing the Neckline!


4hr Time Frame: Reading Price action we can see that price has been ranging since June 10th in between 72.500-74.500 key psychological. Price is now testing 74.500 key resistance for the third time with a potential double top formation. If price manages to stay below 74.500 the neckline, anticipate price to retrace to 72.500 key support. If price manages to break and close above 74.500 anticipate longs to 75.500. Due to the uncertainty of market fluidity, risk management is highly recommended.

 

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