Sell AUDJPY @ 81.10. Take profit @ 80.00 and 79.50
Stop loss a close above 81.60
Last daily candlestick of the AUDJPY pair formed a Bearish Engulfing pattern after forming another daily inverted hammer candlesticks which might signal a top in the original trend. On the weekly chart, the price also formed a Doji and stopped its move at the support/ resistance levels formed in previous weeks. On the 4 hours chart, the price is retesting the broken upward trendline after it formed a series of lower tops. The RSI is still around its lower boundary at 30 whereas the MACD signal line is about to cross the histogram from top to bottom, and at last, the CCI is bouncing off the oversold zone which might be interpreted as a correction to the trend.