Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: AUD/JPY recovers from session lows of 74.55, momentum studies bearish

  • AUD/JPY is extending slump for a second consecutive session, renewed concerns over Brexit after-effects boosted Yen demand. 
     
  • The pair extends downside from Tuesday, hits lows of 74.55 before paring some losses to currently trade at around 47.85 levels.
     
  • Speculation about BOJ verbal intervention sees some profit booking in JPY crosses. Techs support further downside. 
     
  • Stochs and RSI on the daily charts are inclined south, MACD is well below the zero mark.
     
  • Immediate support and resistance are now located at 74.38 (lower Bollinger Band) and 75 levels respectively.
     
  • Our previous call (http://www.econotimes.com/FxWirePro-AUD-JPY-breaks-major-support-at-77-level-good-to-sell-on-rallies-231518) has achieved all targets.

Recommendation: Book partial profits, lower trailing stops to 75.50, target 74.35/ 74/ 73.75
 

  • Market Data
Close

Welcome to EconoTimes

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