FX_IDC:AUDJPY   Australian Dollar / Japanese Yen
In a similar way to CAD/JPY             , AUD/JPY             looks ready to rollover. It is breaking the wedge , touching 50 MA and reversing lower.

50 MA < 100 MA < 200 MA which is bearish in daily time frame.
It's also below daily Ichimoku cloud , and trying to retest the cloud, but reverse lower before touching it.

Pair should at least test 50 back at 91.8, but I suspect it can make new low.

All Yen cross is dangerous at this stage, with exception of USD/JPY             that moves together with USD instead of with Yen.
Yen cross drops not because of Yen. In other words, CAD/JPY             drops because USD/CAD             rallies strongly. AUD/JPY             drops because AUD/USD             drops strongly. NZD/JPY drops because NZD/USD             drops strongly.

USD/JPY             should continue higher, but the pace of USD/JPY             rally is not as big as the pace of the drop in NZD/USD             , AUD/USD             , etc and that's why the Yen cross drops.
Same approach :-)
+1 Reply
TraderTech Realisto_FX
Yep... good luck :-) Thanks for stopping by
+1 Reply
jangseohee TraderTech
same 2 u 2, good lucj :-)
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