Trade setups for AUD/JPY
It’s worth paying attention to AUD/JPY. The pair has approached the resistance line connecting April and May highs.
EUR/JPY can slide even lower
Trade idea
SELL 124.00; TP 123.20; SL 124.30
EUR/JPY has made a spectacular decline this week because of the weaker euro. The pair reached our bearish targets and it’s time to set the new ones. The decline below the 38.2% Fibo at 124.20 will open the way down to the next Fibo level at 123.15. The outlook will remain negative as long as the euro’s trading below 125.00 (psychological level, 50-day MA, and the former support line).
Elizabeth Belugina
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