AUDJPY is heading towards the support line of a Falling Wedge and could reach this point within the next 19 hours. It has tested this line numerous times in the past, and this time could be no different from the past, ending in a rebound instead of a breakout. If the breakout doesn’t happen, we could see a retracement back down to current levels.
A Falling Wedge has formed, AUDJPY is approaching resistance. Can we expect a breakout and the start of a new trend or a reversal?
