Gold has started a remarkable downside correction and stands on the key 23.6% retracement area after a failure to hold the 38.2% retracement area.
AUD/JPY reversed from resistance zone
- AUD/JPY reversed from resistance zone
- Next sell target - 80.60
AUD/JPY continues to fall inside the short-term corrective wave 4 which started earlier from the resistance zone lying between the powerful resistance level 84.00 (which has been reversing the pair from March, as can be seen from the daily AUD/JPY chart below) and the upper daily Bollinger Band. AUD/JPY is expected to fall further toward the next sell target at the next support level 80.60 (multi-month low from March and June).
Gold is steadily plummeting for the third consecutive day. Where is the bottom? Let’s find out.
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