AUD/JPY has reached the support line connecting August and October lows in the 73.30 area. What's next?
USD/JPY: the Bears continue sells
Technical levels: support – 110.50; resistance – 111.50.
- Buy — 110.70; SL — 110.50; TP1 — 111.50; TP2 — 111.80.
Reason: bearish Ichimoku Cloud with falling Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen with falling lines; the market returned to negative zone but near strong support of 110.50.
The USD started the day dropping against the Canadian dollar, now on a bullish reversal.