It’s worth paying attention to AUD/JPY. The pair has approached the resistance line connecting April and May highs.
AUD/USD: testing Cloud’s resistance
Technical levels: support – 0.7730; resistance – 0.7750, 0.7780
- Sell — 0.7730; SL — 0.7750; TP1 — 0.7610; TP2 — 0.7580.
Reason: bearish Ichimoku Cloud with horizontal Senkou Span A and B; a new dead cross of Tenkan-sen and Kijun-sen under the Cloud, but with the lines are horizontal; the prices in a correction movement to the Cloud and can be stopped by Cloud’s resistance.
The way EUR/GBP bottomed around 0.8700, then rose above 0.8870 and jumped from the trendline support at 0.8910 shows that the pair possesses bullish momentum.
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