The AUDJPY, on the daily chart, broke below the trading channel’s support line (red circle) last May 18 and the 76-77 support line (green line) last May 20. The next support is at 70 (red line) and if the price goes below it, we might see the currency head towards the 65 area. This can happen in short time if the decline continues. However, if the bulls get back and the Aussie Yen starts going up, we should take note of the resistance at 76 because a break above this can retain the currency pair’s ascent. The trading range I’m looking at right now is 70.5-76.2.
No related posts.
Related posts brought to you by Yet Another Related Posts Plugin.
