AUDJPY has been bearish on the daily chart. The price seems to have had a corrective wave on the H4 chart. The price now is heading towards the South from a strong level of resistance. If it continues to go down like this and makes another breakout, then AUDJPY sellers may find a good opportunity to sell the pair and grab some green pips. Let us have a look at the H4 AUDJPY chart.

This is another trade idea generated by the Elite Swing Trader.

The level of 78.865 is the level, which held four H4 candles. The last candle that we see here is a massive H4 bearish candle. It is not finished yet though. If this finishes below the level of 78.505, then an H1 consolidation may take place; an H1 bearish engulfing candle right at the breakout level meaning at the level of 78.505 would drive the price to go towards the level of 77.900 with good selling pressure. Let us have a look at the summary of the trade...

• Sell Stop: 78.342
• Stop Loss:  78.963
• Take Profit: 77.931

With the JPY pairs, the long holiday in Japan may be a factor. However, a pair does not only run on a single currency or even the holiday factor may drive a JPY pair to have a strong trend. Technically the AUDJPY looks very good to go short. Thus, technical traders should look for opportunity to go short on the pair. Let us wait to see that the pair makes the breakout, consolidation and the H1 bearish engulfing candle that we are expecting here. Click Here to learn more about Elite Swing Trader

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