AUDJPY H4 - 77.000. Possible Harmonic
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AUDJPY has reached the round number 77.000. These levels are very attractive to the market and it tends to breakout or reverse near them. With that being said, we also have a newly formed resistance at the same level leaving us to wonder what exactly the market intends on doing.
It is clear also from the massive divergence that bullish momentum is fading and we might be nearing the end of the long move. Will we see one last move upwards breaking above the resistance or is this the end? We wait and see.
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