The AUDJPY pair is bearish and is close to stage a major technical breakout under its lower daily Bollinger Band. The Bollinger Bands are also slopping downwards, which is bearish.
The daily time frame shows that significant amounts of bearish MACD price divergence has formed. The MACD price divergence extends down towards the 78.90 level.
What the possible outcomes are
In our most likely scenario, the bearish price trend will remain in place and the AUDJPY pair will continue to decline back towards the 78.90 level over the medium-term time horizon.
Alternatively, the AUDJPY pair will stage another technical test back towards the mid-line of the Bollinger Band, around 81.95, and then start to sell-off again.
Support 78.90 79.90
Resistance 81.20 81.95
Written by Admin
Vehicles drive by unfinished residential buildings from the Evergrande Oasis, a housing complex developed by ...
Jack Dorsey, CEO of Twitter and co-founder & CEO of Square, speaks during the crypto-currency ...