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 - 84.00
AUD/JPY recently reversed down from the resistance zone lying between the pivotal resistance level 84.00 (which has been reversing the price from and the start of March), upper daily Bollinger Band and the 38.2% Fibonacci correction of the previous sharp downward impulse from January. AUD/JPY is expected to fall further toward the next sell target at the next support level 82.00. Strong resistance remains at the aforementioned resistance level 84.00.
Similar
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?
Latest news
Bearish scenario: Sell below 1.0820 / 1.0841... Bullish scenario: Buy above 1.0827...
Bearish scenario: Sell below 2200 / 2194 ... Nearest bullish scenario: Buy above 2197... Bullish scenario after retracement: Consider buys around each indicated demand zone
During the Asian session on Wednesday, the USD/CAD pair rebounded after two days of losses, reaching around 1.3590. This uptick is fueled by a stronger US dollar and lower crude oil prices, which put pressure on the Canadian dollar. The decline in Western Texas Intermediate (WTI) oil prices to approximately $80.70 is attributed to...