What happened? Japanese shares fell on Monday…
AUD/JPY reversed from resistance area
2019-11-11 • Updated
- AUD/JPY reversed from resistance area
- Next sell target - 83.00
AUD/JPY today reversed down once again from the resistance area lying between the powerful resistance level 84.00 (which has been steadily reversing the price from the end of February, as can be seen below), upper daily Bollinger Band and the 38.2% Fibonacci correction of the downward impulse from January. AUD/JPY is expected to fall further toward the next sell target at the next support level 83.00 (which reversed earlier wave (ii)).
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?
This week, there are a few high-probability trade ideas I'd like to recommend to you. Trading these setups, be sure to implement a proper risk management approach.
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