15.11.2019

AUD/JPY needs to decide

Trade ideas


SELL 73.25; TP1 72.80; TP2 72.20; SL 73.40


BUY 74.00; TP 74.45; SL 73.85


AUD/JPY has reached the support line connecting August and October lows in the 73.30 area. Now the pair will have to decide, which trend it’s going to continue: the long-term downtrend or a shorter-term uptrend. In the first case, the initial targets will lie at 72.80 and 72.15 (50% and 61.8% of the August-November advance). If the support holds and the price returns above the 50- and 100-day MAs, a break above 73.95 will allow it to rise to74.50 (September highs).
For more-
https://fbs.com/analytics/articles/a...ytics_roleclub