AUDJPY reaching for near term target.

Last week on the “Trade Off” I discussed the AUDJPY and the risk that it could rally well above the 90.00 level when we were just above the 87.00 level. Now, we are nearing the butterfly completion level and (personally) I am looking for a reversal from near the 91.00 level near term. This would be considered strong counter trend, but a pullback is warranted as the RSI is reaching levels not seen since February and November 2021, both which marked a near term high for the pair.

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Blake Morrow