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13 May 2019
AUD/JPY Technical Analysis: Capped by 4HR 20-SMA, below interim channel support, eyes are on 76.30s double bottom
- AUD/JPY bulls were capped by 4HR 20-SMA and lower channel resistance with the confluence of 38.2% retracement level.
- 4HR Stochastics are turning lower.
- Below interim channel support, eyes are on 76.26/30s 2nd Jan lows and recent double bottom.
- 75.80 is a 50% retracement target and 75.24 as the 4th Jan lows, second lowest point to date bar the flash crash lows at 71.03.
- Upside target is the 77.22 highs for the closing day last week and 77.50s, Fibo level and the confluence of 25th March swing low.
