AUD/JPY Bearish Continuation or Bullish Bounce
In this article:
Dear Traders,
AUD/JPY is overall bearish. The price must remain below 66.00 in order for bears to stay in control.
65.50-60 is the POC zone where the price might reject lower. The first target will be 65.22, and the break below should target 64.60, 64.36 and 63.90. We can see a lot of historical sellers within the POC. However, a bounce above 65.70 might lead the price to a retest of 66.00. If 66 breaks, then bulls should expect a bounce up. Observe it and trade as the AUD/JPY is the best pair which follows the equities correlation.
The Analysis has been done with the CAMMACD.Core and Sit Systems
This article was originally posted on FX Empire
