FxcInvesting
Short

AUDJPY Breaks From Rising Wedge, Targets 85.35

FX:AUDJPY   Australian Dollar / Japanese Yen
Just two sessions ago the AUDUSD             carved out a bearish pin bar from support turned resistance. The trade has played out in textbook fashion so far, and now it seems the AUDJPY             is following in its footsteps with some bearish price action of its own.

The rising wedge that extends from the December 2016 low broke down yesterday. These patterns often signal exhaustion and at least a correction of the current trend.

However, yesterday’s close at 86.08 leaves me watching for a selling opportunity on a retest of the area as new resistance. As mentioned last month, key support from here comes in at 85.35 followed by 83.73.

The upcoming CPI             and PPI figures out of China at 8:30 pm EST could cause a stir. So you may want to keep these two events in mind if looking for an entry during the Tokyo session.

Check the upside technical analysis .

Performed by analytical expert: Urban Stamcar
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out