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Short

Shooting star on AUD/JPY, short rallies, target 77.88 (100-DMA)

FX:AUDJPY   Australian Dollar / Japanese Yen
196 1 5
AUD/JPY             edges higher from session lows at 78.98, currently, hovers around 20-DMA at 79.20.

'Shooting star' formation seen on AUD/JPY             daily charts , close below 20-DMA to see drag lower.

Techs support downside in the pair, Stochs and RSI are biased lower, bearish MACD line crossover on signal line seen.

Major support levels - 78.98 (session lows), 78.72 (Oct 21 low), 78.37 (cloud top), 78.10 (50-DMA)

Major resistance levels - 79.60 (5-DMA), 80.04 (200-DMA), 80.31 (Oct 26 high)

The pair is currently holding minor support at 78.95, break below to see further drag.

Good to short rallies, target 77.90, stop loss 79.55


Nice idea! I saw this one too a few days ago.
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