AUDJPY (MONTHLY) | LONG TERM SPECULATION
*Price action is presently hovering around the 70.000/72.000 zone which is a major support.
*Also, put into consideration that price has been consolidating between this support @ 70.000 and resistance @ 90.000 zone since 1996.
*However, if the price breaks the 70.000 zone; we might be looking at a downward rally to test support @ 55.000 (which also happened in 2001 and 2009) and if price rejects this 70.000 zone, we might be looking at a consolidation into the 90.000 zone.
*We are at a crossroad and important that we keep watching the character of the price at the present zone (70.000/72.000) before making any execution.
*Lower time frame speculation shall be published as we continue to monitor price action in the present zone.
*Also, put into consideration that price has been consolidating between this support @ 70.000 and resistance @ 90.000 zone since 1996.
*However, if the price breaks the 70.000 zone; we might be looking at a downward rally to test support @ 55.000 (which also happened in 2001 and 2009) and if price rejects this 70.000 zone, we might be looking at a consolidation into the 90.000 zone.
*We are at a crossroad and important that we keep watching the character of the price at the present zone (70.000/72.000) before making any execution.
*Lower time frame speculation shall be published as we continue to monitor price action in the present zone.
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