AUDJPY Entry setup Analysis

The AUDJPY is poised and ready but which side will take control? Price is hovering around the 74.280 zone after a recent failure from the bulls to break up and through the level. We see the opportunity for a short squeeze and run up to 75.650 so will be watching for a break and retest of 74.280 for the buy entry. On the flipside, if the current move up starts to breakdown and we see a shoulder entry short, happy to sell for a run down to 73.435 and below. Time to watch and wait for either the bulls or bears to show their hand.

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