AUDJPY is approaching our first resistance at 78.71 (Horizontal pullback resistance, 61.8%, 100% fibonacci extension, 23.6% fiboancci retracement) and a strong drop might occur below this level pushing price down to our major support at 75.81 (100% fibonacci extension, Elliot wave structure).
RSI (55) is also approaching resistance and we might see a...
Confluences for Trade:
- Price action bouncing off Support of Parallel Channel
- Stochastic Oversold momentum (D1 and W1)
- Wide gap between EMAs
- Price action created a double bottom around Parallel Channel support line
- Fundamentally, there is positivity in sentiment moving into the coming 2019 which will see a dollar...
AUDJPY is approaching its resistance at 78.69 (61.8% Fibonacci extension, 23.6% Fibonacci retracement, horizontal overlap resistance) where it could potentially reverse down to its support at 77.62 (horizontal swing low support).
Stochastic (55, 5, 3) is approaching its resistance at 94% where a corresponding reversal could occur.
AUDJPY is approaching our first resistance at 78.94 (horizontal pullback resistance, 23.6% fibonacci retracement, 61.8%, 100% fibonacci extension, Elliot wave structure) and a strong drop might occur below this level pushing price down to our major support at 75.81 (100% fibonacci extension, elliot wave structure).
RSI (55) is seeing a bearish exit and might see...
This is my analysis on AUD/JPY
As you can see, this pair broke the daily trendline which now is a support trendline instead of resistance.
This pair is at a crucial and major support region right, it should go up really quick.
It recently sligthly broke the Monthly Trendline, but jumped up again quick, this is why it think this was a false movement (fake out)...