AUD/JPY: sell zone around 86.03

AUD/JPY: sell zone around 86.03

AUD/JPY is looking to consolidate its losses across the board below the 200 SMA at H1 chart. Currently, it remains supported by the 84.45 level, at which we’re expecting to make a correction that drives the pair to test the Fibonacci zone of 50% at 86.03. Around that area, the pair could find offers in order to resume the bearish bias and reaches the Fibo target of -23.6% at 83.70.

RSI indicator is close to test the 50 level, strengthening the idea of sideways moves.




Morning brief for May 30

 Growing concerns over Greek bailout, early elections in Italy and comments by the ECB President Mario Draghi about the need to maintain the bank’s extraordinary amount of monetary policy support…

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