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The AUDJPY has been experiencing soild downward momentum of late on the daily chart. Price has broken a key support level and now looks to be possibly retracing higher to this old support area.
If price can test this old support traders could look for it to hold as new resistance. Short trades with the recent momentum could then be hunted on the daily or 4hr chart with Price Action as confirmation.
AUDJPY DAILY CHART
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