AUDJPY Daily Analysis 2/9/20

Short Idea

Looking on the chart we can see that all the significant timeframes (M,W,D,4hr) are all very bearish.

Last week we saw price action come back and test broken support as resistance as well as hitting the 50% daily fib level.

Going into this week we are looking for price action to continue lower after this sharp reversal. To enter in on this trade look for lower timeframe setups and smaller pullbacks.

We are looking to target toward the 71.700 level next