AUDJPY 2 hr into the high which we already know is at significant monthly resistance. Other timing indicators are giving off high signals on multiple time frames. Would like to see a close above 84.26 this session for a major confirmation and sell signal on the daily. Interesting, there is a pattern here which comes out at highs and lows sometimes and has proved reliable over the years. When there is a spike high or low, and the market then comes back to that high or low with three thrusts in the same direction as the spike, then after that third spike, the result can be a fast move off in the opposite direction. Perhaps that will happen, or perhaps it won't, but the fact that the pattern has appeared here all other factors considered, lends further support to the proposition that a high of intermediate term significance is forming at this level.
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