What happened? Japanese shares fell on Monday…
AUD/JPY rising inside minor corrective wave (ii)
2019-11-11 • Updated
- AUD/JPY rising inside minor corrective wave (ii)
- Next buy target -79.00
AUD/JPY continues to rise inside the minor corrective wave (ii) which started earlier from the support zone lying between the key support level 82.00 (which reversed the earlier corrections 2 in May) and the lower daily Bollinger Band. The upward reversal form this support area created the daily Japanese candlesticks reversal pattern Bullish Engulfing. AUD/JPY is expected to rise toward the next buy target at next resistance level 79.00.
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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