AUDJPY – Top of Major Falling Channel, Crab Formed at Peak, Retracement Channel in Process

 

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AUDJPY D1, Top of Major Falling Channel

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AUDJPY H1, Crab Formed at Peak, Price Broke Below Rising Trendline

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AUDJPY M15, Retracement Channel in Process

AUDJPY is finally at its peak as it has reached the top of its major falling channel and there are signs of exhaustion and reversal.
A Crab was formed at the top of the channel within its major resistance zone and the price has started falling from the FR127.2% of the Crab.
The price went on to break below a rising trendline and began to form a retracement channel.
Once the price completed its retracement channel at the falling trendline at around 79.90, look for an opportunity to sell.
 

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