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 with the daily Shooting Star from the resistance zone lying between the pivotal resistance level 84.40 (former strong support level from November), upper daily Bollinger Band and the 38.2% Fibonacci correction of the downward impulse from January. AUD/JPY is expected to fall toward the next sell target at next support level 82.00 (which reversed the previous impulse wave 1).
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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