AUD/JPY - Price Breaks Down Below Key Support
Price broke down below key support at 9450 today and looks to be well positioned for a new downtrend. We will wait and see if we get a small retracement before looking to short this market inline with the recent selling pressure.
This market started to sell off from near 16800 last week and has produced a pattern of lower highs on the daily timeframe. There is no key support until 16000 so we may see more downside in this market over the days / weeks to come.