Hello traders,
Looking at the weekly chart for AUD/JPY, it is currently testing neckline of month long head and shoulders pattern. Breaking this neckline with convincing high volume in weekly chart indicate further drop, and targets are listed in the chart.
Target 1: 62
Target 2: 56
In shorter time frame, bulls are trying to hold on this important support level, and there may be retest to 73.6
Looking at the weekly chart for AUD/JPY, it is currently testing neckline of month long head and shoulders pattern. Breaking this neckline with convincing high volume in weekly chart indicate further drop, and targets are listed in the chart.
Target 1: 62
Target 2: 56
In shorter time frame, bulls are trying to hold on this important support level, and there may be retest to 73.6
In shorter time frame, there is head and shoulders pattern. Short term target is 69.7-69.8.