Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: AUD/JPY forms shooting star, bias lower, short break below 20-DMA

  • AUD/JPY edges higher from session lows at 78.98, currently, hovers around 20-DMA at 79.20.
     
  • 'Shooting star' formation seen on AUD/JPY daily charts, close below 20-DMA to see drag lower.
     
  • Techs support downside in the pair, Stochs and RSI are biased lower, bearish MACD line crossover on signal line seen.
     
  • Major support levels - 78.98 (session lows), 78.72 (Oct 21 low), 78.10 (50-DMA)
     
  • Major resistance levels - 79.60 (5-DMA), 80.04 (200-DMA), 80.31 (Oct 26 high)

Recommendation: Short breakout below 20-DMA at 0.79.20, SL: 80, TP: 78.75/ 78.10/ 77.75
 

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.