AUD/JPY Intraday: below its lower Bollinger band
AUD/JPY (AUD/JPY)
+0.021+0.02%
the downside prevails as long as 100.77 is resistance.
Our pivot point stands at 100.77.
Our preference: the downside prevails as long as 100.77 is resistance.
Alternative scenario: the upside breakout of 100.77, would call for 101.22 and 101.49.
Comment: the RSI is below 30. It could either mean that the pair is in a lasting downtrend or just oversold and therefore bound to retrace (look for bullish divergence in this case). The MACD is below its signal line and negative. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 100.89 and 101.01). Finally, the AUD/JPY is trading below its lower Bollinger band (standing at 100.47).
Supports and resistances:
101.49 **
101.22 *
100.77 **
100.59
100.39 last
99.79
99.52 **
99.25 *
98.98 **
Our preference: the downside prevails as long as 100.77 is resistance.
Alternative scenario: the upside breakout of 100.77, would call for 101.22 and 101.49.
Comment: the RSI is below 30. It could either mean that the pair is in a lasting downtrend or just oversold and therefore bound to retrace (look for bullish divergence in this case). The MACD is below its signal line and negative. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 100.89 and 101.01). Finally, the AUD/JPY is trading below its lower Bollinger band (standing at 100.47).
Supports and resistances:
101.49 **
101.22 *
100.77 **
100.59
100.39 last
99.79
99.52 **
99.25 *
98.98 **
Disclaimer: References, analysis and trading strategies are provided by the third-party provider, Trading Central, and the point of view is based on the independent assessment and judgment of the analyst, without considering the investment objectives and financial situation of the investors. All strategic opinions do not constitute investment advice or recommendations and are for references only. Our company also does not guarantee the accuracy of the strategic views and does not take any responsibility for the negative results caused by the trading strategies.
