Magazine

Aud/jpy

Posted on the 28 October 2019 by Merks50

AUD/JPY intraday: the downside prevails as long as 74.29 is resistance
Our pivot point stands at 74.29.
Comment:
the RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the pair is trading under both its 20 and 50 MAs (respectively at 74.15 and 74.15).
Alternative scenario:
above 74.29, look for 74.52 and 74.65.
Our preference:
the downside prevails as long as 74.29 is resistance.