STOCKS: reversal chart patterns
There was a notable reversal in the stock market on Wednesday. Have you noticed the reversal chart patterns?
AUD/JPY broke support level 110.50
- AUD/JPY broke support level 110.50
- Next sell target - 80.50
AUD/JPY continues to fall after the earlier breakout of the support level 110.50 (which reversed the price at the start of April, as can be seen from the daily AUD/JPY chart below). The breakout of this support level should accelerate the active impulse waves 3 and (5). AUD/JPY is expected to fall toward the next sell target at next support level 80.50 (low of the previous impulse wave (3)).
Dmitry Chernovolov
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