What happened? Japanese shares fell on Monday…
AUD/JPY reversed from resistance zone
2019-11-11 • Updated
- AUD/JPY reversed from resistance zone
- Next sell target - 87.30
AUD/JPY recently reversed down from the resistance zone lying between the strong resistance level 89.30 (which also stopped the previous weekly impulse wave 1, as can be seen below) and the upper daily Bollinger Band. The downward reversal from this resistance zone stopped the earlier minor impulse wave 3. Given the overbought weekly Stochastic - AUD/JPY is expected to fall to the next sell target at the next support level 87.30.
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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