AUDJPY Big Downside Potential

Look at that 200 period average on the 4 hour chart in AUDJPY…impressive! Focus is lower as a result. 75.70s is proposed resistance now (see scandex.com/2020/10/...t-update-october-13/). Eventual downside is significant as per the failed breakout on a longer term basis (see scandex.com/2020/10/...t-update-october-13/). Downside swing levels to target are 72.00/50 (4th wave support in June and 2 equal legs down) and low 69.00s (50% retrace of rally from March and 161.8% extension).