What happened? Japanese shares fell on Monday…
AUD/JPY falling inside minor C-wave
2019-11-11 • Updated
- AUD/JPY falling inside minor C-wave
- Next sell targets - 85.70 and 85.00
AUD/JPY continues to fall inside the minor C-wave of the intermediate ABC correction (4) - which started earlier from the resistance zone surrounding the resistance level 89.50. The price recently broke the support trendline of the sharp daily up channel from the start of June – which strengthened the bearish pressure on this currency pair. AUD/JPY is expected to fall further to next sell target at the next support level 85.70 (low of wave 4) – the breakout of which can lead to further losses toward 85.00 (former resistance from June).
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.
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