fx streets said
FXstreet.com (San Francisco) - Intraday price action for AUD/JPY again encountered selling interest around key Fibonacci resistance at 83.20 on Monday (61.8%, 88.64/74.48), which limited earlier rallies to 83.26 before pullback to close the North American session at 82.97.
The mentioned price action resulted in the formation of an inside day bar, a pattern of significance after last Friday’s sharp drop, suggesting the market has entered a period of consolidation before a potential downside extension in the sessions ahead.
The 21-day EMA at 82.50 seems to be supporting the downside. Further support is noted at 82.38 (5 July high), then 82.00 (200 EMA, 4hr). Upside rallies may find more offers at the 84.00 psychological figure. AUD/JPY is quoted at 82.95 in early Asia.
http://www.fxstreet.com/news/forex-news/article.aspx?storyid=9c6d74c5-a719-4761-b80d-b72e3f3560fc
We have a bullish count Targeting 1 84.20 Target 2 87.46 exit zone 82.17 /81.496
but it seems price is rounding off need more clarification
audjpy updated
Therefore the clever combatant imposes his will on the enemy, but does not allow the enemy's will to be imposed on him.
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