AUD/JPY to break beyond important pivot point

2020-01-14 09:21:42

As you see on the pic provided, price is caught in the crosshairs between two important pivot points. The first the is pivot point from Dec. 13, 2019 what we can call as resistance since price reacted in that level, the other is from Nov. 8, 2019. Price has yet to retrace to that point. But based on the fact that there wasn't a massive sell-off yet and is currently holding between these two important levels, my bias is that price will break to new highs either after finishing its short retracement or it'll shoot up now.