AUD/JPY reversed from resistance zone

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).

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The views here are solely based on Technical Analysis techniques using my personal Smart Money approach. Hence, it is important to understand that the trading of CFDs comes at a risk; if not properly managed, you may lose all of your trading capital. To avoid costly mistakes while you look to trade these opportunities, be sure to do your own due diligence and manage your risk appropriately.

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