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 - 82.00
AUD/JPY recently reversed down from the resistance zone surrounding the pivotal resistance level 84.310 (former strong support level from November, acting as resistance after it was broken recently). The downer reversal from the resistance level 84.310 accelerated the active impulse waves 3 and (C). AUD/JPY is expected to fall further toward the next sell target at next support level 82.00 (former strong support from May and 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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