What happened? Japanese shares fell on Monday…
AUD/JPY falling inside intermediate impulse wave (3)
2019-11-11 • Updated
- AUD/JPY falling inside intermediate impulse wave (3)
- Next sell target -81.10
AUD/JPY has been falling in the last few trading sessions inside the intermediate impulse wave (3) – which started earlier from the resistance area surrounding the major multi-month resistance level 84.00 (which has been reversing the price from March). Having recently broken the support level 82.60 - AUD/JPY is expected to fall further toward the next sell target at the next support level 81.10 (low of wave B).
AUD/USD has been trying to break higher for an extended period but without any chance. From April until today, all rallies’ attempts have faded as shown on the daily chart.
Weaker dollar - cheaper dollar. What else may be a conclusion to be drawn from the USD's weakening?
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