AUDJPY Mushrooming Shape indication for Distribution for short position

19th March weekly bar is a Key Reversal bar made a new high, closed on the low. Next weekly bar of 25th March widespread down bar confirmed weakness for coming days and weeks. 84.80-90 high supply zone area for short position. JPY one year bearish extreme positions suspect strength in JPY soon. JPY may strong across the board but reversal pattern takes time to build energy.

Daily frame 19th March daily bar is a key reversal bar made a new high closed on the low. 20th March daily bar is a coiled bar. Coiled bar is the bar which shows compression of energy, shows further confirmation where price has to go on. 82.30 is initial support level need to break to confirm start of down trend.

Resistances: 84.40, next level 84.80 and last one 85.50 should hold for weakness ahead.

Supports: 82.30, next level 81.30 and 79.40 as well.

AUDJPY daily forecast. AUDJPY weekly forecast. AUDJPY daily signal. AUDJPY weekly signal.