AUD Gets a Pullback . Are We just Before The Big Move up ?
AUD/JPY Analysis:
First of all, we can agree that AUD/JPY
AUDJPY is overall bullish.However, after reaching the order block at the current levels, we might see a price retracement after a rejection. Historical performance suggests that we could experience a pullback later this week.
JPY Strength: The JPY
JPYX seems to be gaining strength, at least for now.Market Structure: We’ve got a swing CHoCH (Change of Character) on a higher time frame, indicating that a pullback before a continuation of the upward trend seems to be the right approach.
Gold Correlation: Gold
GOLD is also at its highest, and a potential price pullback could align with the expected retracement in AUD/JPY.Short-Term Outlook:
Short Position: In the short term, a pullback presents a good shorting opportunity for AUD/JPY.
We just got to The golden Fib level Had a Bearish Liquidity grab and got the minor reversal signal on the Oscillator Matrix. would be great to confirm the structure change on the lower Time Frame
Long-Term Outlook:
Long Position: Long term, the overall bullish trend remains intact, so longs are still the preferred direction.
For a major short, we would need to see the price reach significantly higher levels than where it is now.
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