AUD/JPY Intraday: the downside prevails as long as 98.19 is resistance
AUD/JPY (AUD/JPY)
+0.174+0.18%
the downside prevails as long as 98.19 is resistance.
Our pivot point stands at 98.19.
Our preference: the downside prevails as long as 98.19 is resistance.
Alternative scenario: above 98.19, look for 98.68 and 98.98.
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 negative and below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 98.19 and 98.28).
Supports and resistances:
98.98 **
98.68 *
98.19 **
98.00
97.77 last
97.16
96.87 **
96.57 *
96.28 **
Our preference: the downside prevails as long as 98.19 is resistance.
Alternative scenario: above 98.19, look for 98.68 and 98.98.
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 negative and below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 98.19 and 98.28).
Supports and resistances:
98.98 **
98.68 *
98.19 **
98.00
97.77 last
97.16
96.87 **
96.57 *
96.28 **
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