AUD/JPY – 30M – SELLThe pair moves from the bullish trendline down.
A descent downwards to the next support at 97.98100 is likely expected.
Caution: A possible counter-trend in the direction of resistance at 99.05900 should be noted.
Consider stop-loss settings accordingly.
Correction of the major bullish trend broke through the Fibonacci 0.24-Level.Continuation of the current descending trend is likely expected. Target of the current trend is 98.3395 at the Fibonacci level 0.5-Level. Caution: A possible counter-trend in the direction of the support level at 99.05900 should be noted.
Consider stop-loss settings accordingly.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 99.86000 |
| 2nd High | 99.83400 |
| Next High | 99.05900 |
| Current Price | 98.65600 |
| Next Low | 97.98100 |
| 2nd Low | 97.94100 |
| 3rd Low | 97.62000 |