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.
Weaker dollar - cheaper dollar. What else may be a conclusion to be drawn from the USD's weakening?
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