AUDJPY 4Hour 11/18/19

AJ Short Idea

Higher timeframe analysis shows that AJ has been majorly bearish

Current price action rejected a monthly resistance zone and is now retracing to a 4hour 38.2% fib level

We just saw a 4hour bearish engulfing form which broke lower timeframe structure and we are watching price action retest that zone right now

Look to target toward the -27% fib level around 72.750 and potentially lower toward our monthly support around 70.00